- Captives provide greater protection against market shifts
- Rate reductions may not be sustainable and could reverse
- Cyber frequently written as part of multi-line policies
Maryland has moved towards closer scrutiny of captive arrangements as lawmakers recently passed Senate Bill 890, requiring the Maryland Insurance Administration (MIA) to conduct a comprehensive study of how captives owned by Maryland-based organisations are used, regulated, and taxed within the state.
Under SB 890, the MIA, in consultation with relevant stakeholders, must study the use, regulation, and taxation of captives by entities in the State.
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.
