Oklahoma lawmakers are advancing legislation that would allow cells to be converted into standalone insurance entities and reorganised into other captive structures, subject to regulatory approval.
Under House Bill 2955, a sponsored captive may, subject to prior written approval, convert one or more protected cells into a new single protected cell or entity-protected cell, sponsored captive, pure captive, risk retention group, agency captive, industrial insured, association captive, a captive insurance company organised as a reciprocal insurer, or a series captive.
Subscribe to Ci Premium to continue reading
Captive Intelligence provides high-value information, industry analysis, exclusive interviews and business intelligence tools to professionals in the captive insurance market.
