BI’s Article search uses Boolean search capabilities. If you are not familiar with these principles, here are some quick tips.

To search specifically for more than one word, put the search term in quotation marks. For example, “workers compensation”. This will limit your search to that combination of words.

To search for a combination of terms, use quotations and the & symbol. For example, “hurricane” & “loss”.

Login Register Subscribe

Utah captives double in 2006


SALT LAKE CITY--The Utah Department of Insurance in 2006 licensed a record 16 captive insurance companies, doubling the state's captive roster to 30.

Of the new formations, 15 were single-parent and one was a risk retention group. Additionally, one captive that was licensed in 2005 voluntarily decided not to renew its license last year.

Nearly half of the new captives were formed by parents in the real estate or construction industries, said Donnie R. Spann, the state's captive insurance director.

"We had a great year," Mr. Spann said, crediting the growth in part to the state's attractive captive statute. Among other things, Utah does not impose premium taxes on captives.