HI HB2286

Amend the frequency of statutorily required captive insurance company examinations from annual to once every five years, unless the Insurance Commissioner requires otherwise.

Require risk retention captive insurance companies to undergo examination within three years of formation.

Clarify that protected cell accounts established by sponsored captive insurance companies must be organized and operated under specified forms authorized by the Insurance Commissioner.

Designed to help captive insurance companies maintain competitiveness while strengthening regulatory oversight through periodic examinations.