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Committee approves broker and manager contracts for proposed captive insurance program, contingent on legislation
Summary
The Bureau of Legislative Research presented contracts selecting Stevens as broker and Willis Towers Watson as captive manager for a proposed captive insurance program; the committee approved both contracts, contingent on passage of the underlying legislation, and authorized contract assignment/ signature to take effect July 1, 2025.
Jill Thayer of the Bureau of Legislative Research told the committee that members had previously selected Stevens to serve as broker for a new captive program and Willis Towers Watson as the proposed captive manager. Thayer said the broker agreement and the master management services agreement in committee packets contain the terms previously presented and are both contingent on passage of the legislation creating the captive…
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