Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
House committee approves bill to broaden captive insurance financing options
Summary
The Georgia House Committee on Insurance passed House Bill 348, a Department of Insurance-requested measure that allows captive insurers to accept investor contributions and alternative financing, while preserving departmental oversight and reporting requirements.
House Bill 348, LC520715, passed in committee after sponsor Representative Bruce Williamson described it as a Department of Insurance request to ‘‘open up the opportunity for a more flexibility in our captive insurance space.’’ The bill would allow captive insurance entities—insurers formed to cover risks of their parent companies—to accept investor contributions and alternative financing arrangements to bolster surplus.
The measure changes statutory language to permit investment vehicles or securities structures that can feed capital into captives. Williamson said the change ‘‘allows our businesses in Georgia to…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
