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Captive incentives


State: Arizona

Legislative action: Allows branch captives for employee benefit risks; lowers capital and surplus requirements for cell captives

Year: 2007

State: Delaware

Legislative action: Lowers premium taxes; places $125,000 tax cap on direct premiums, $75,000 cap on reinsurance premiums; allows sponsored or cell captive arrangements

Year: 2005

State: Hawaii

Legislative action: Premium tax capped at $200,000, allows captives to be formed as limited liability companies, elevates top captive regulatory position to deputy insurance commissioner status

Year: 2007

State: Montana

Legislative action: Maximum annual premium tax paid by a captive capped at $100,000 2005

State: Nevada

Legislative action: Slashes registration fees and premium taxes paid by state risk retention groups doing business in Nevada; annual premium tax paid by a captive capped at $175,000

Year: 2005

State: Utah

Legislative action: Premium taxes no longer imposed on business funded through captives

Year: 2005

*Legislative changes since 2005