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House advances captive insurance clarifications aimed at drawing domiciles to Utah
Summary
The House debated and advanced amendments clarifying last year’s Captive Insurance Companies Act to make Utah more attractive for large companies to form captive insurers here and to retain premium tax revenue. Lawmakers questioned fiscal projections and a constitutional note about requiring an in‑state contact for service of process.
Representative James Dunnegan, sponsor of House Bill 17, told the House the bill clarifies and corrects language from last year’s Captive Insurance Companies Act and makes it easier for large companies to domicile captive insurers in Utah. He said the change is intended to keep premium tax revenue in Utah rather than having companies domicile out of state and to provide convenience and administrative benefits to firms that self-insure.
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