Last week the American Bankers Association and its insurance subsidiary, the American Bankers
Insurance Association (ABIA) sent a letter of support for "S. 1561, The Captives Insurers Clarification Act of 2015" to Senator Graham and Senator Leahy.
The ABIA appreciate the efforts to clarify for state insurance regulators and
others in the insurance industry the difference between captive insurance entities and surplus
lines insurers. Captive insurance entities are an important tool within enterprise risk management strategies in financial services companies and non-admitted insurers and the surplus lines coverage they make available to customers is important to everyone.
Read the letter.