Best’s Insurance News & Analysis turned to Alana Mueller, Senior Manager at Bennett Thrasher, for expert commentary in its article, “Georgia Passes Bill to Improve Climate for Captive Insurers.” The article discusses recent changes to the captive insurance regulations in Georgia, and their effect on the business climate for captive insurers in the state.
In the article, Mueller explores key provisions of HB 552, passed by the Georgia legislature, and HB 703, not passed by Georgia Legislature. She explains that HB 552 changes the tax structure for captive insurance companies domiciled in the state, and lowers both the aggregate premium tax and the amount of required surplus capital. Mueller also offers insight into why HB 703 added protected cells, segregated cells and special purpose vehicles unto captive types. HB 703 was not passed and Mueller says this bill will likely require other changes to insurance law before it will be implemented by Georgia legislature. Click here to read the full article.