Alana Mueller, a senior manager in Bennett Thrasher’s Captive Insurance practice, authored a May 29 Viewpoint article for the Atlanta Business Chronicle. The article highlights the key changes to Georgia’s captive insurance laws taking effect July 1, 2015.
“Under Georgia’s new law,” she notes, “the premium tax on captive insurance companies drop to 0.4 percent on the first $20 million in premiums and 0.3 percent for more than $20 million. Capital requirements for pure captive insurance companies will drop from $500,000 to $250,000. The law will mandate confidentiality for much of the information filed with the Georgia Department of Insurance, a move intended to reassure closely held companies.”
Mueller, who also serves as president of the Georgia Captive Insurance Association, said the changes are long overdue; in addition more than 40 states have already updated their captive insurance laws. Click here for the full article.
For more information on captive insurance changes in Georgia please, contact Alana Mueller by calling 770.396.2200.