Last Wednesday, May 16, the North Carolina House of Representatives voted to pass captive insurance legislation, NC HB 473, introduced earlier this year. This bill would "establish the procedures for the organization and regulation of the operations of captive insurance companies" in North Carolina.
The bill now heads to the state Senate for consideration.
State efforts to attract and retain captive insurers are surging. The well-known state of domicile for many captives has traditionally been Vermont followed closely by the District of Columbia.
Read the bill.