HI SB2043

Captive insurance companies (except risk retention captive insurance companies) may apply to the Insurance Commissioner for a certificate of exemption from the mandatory examination requirement

To qualify for exemption, applicants must have completed at least one prior examination satisfactorily, timely filed all required reports, and attested to compliance with applicable provisions

Certificates of exemption are valid for up to five years and may be renewed once for an additional five-year term

After a renewed certificate expires, companies must complete at least one new examination before applying for another exemption if required by the commissioner

Effective date: January 1, 3000