To this end, the AzCIA was involved early on in the development of Arizona's captive-enabling legislation, Title 20, Chapter 4, Article 14 of Arizona's Revised Statutes. This legislation, sponsored by Rep. Ted Carpenter, and enthusiastically supported by both the AzCIA and the Arizona Department of Insurance, has paved the way for a stable and progressive captive environment in Arizona.
UTAH CAPTIVE INSURANCE ASSOCIATION
The objective of the Association is to provide information and education to Association members and others interested in the concept of alternative risk financing for existing risks not adequately served by the commercial insurance industry.
According to the provisions of the Utah Insurance Code, and understanding the authority granted under the Utah Captive Law, it is clear that the regulation of captives in Utah will permit the organization and operation of captive entities and alternative risk transfer options, and will provide a business-like common sense approach to any and all parties requesting approval of a formal facility to manage the risks of business owners, individually or as a group. The flexibility and responsiveness of the Utah Captive regulators will be friendly and thorough after reasonable and professional considerations.
MISSOURI CAPTIVE INSURANCE ASSOCIATION
We formed the association in 2010 through a nucleus of persons and firms already highly involved in and experienced with the captive marketplace. When Missouri legislation was passed authorizing domestication in our great state, we recognized the need to partner with the Missouri Captive Department to promote and support this new state law.
We welcome all involved parties in joining us to advance the benefits and advantages of captives. We can help businesses reduce costs while creating jobs and revenue for Missouri citizens.
Missouri promises to maintain a progressive attitude toward the formation, licensing, and regulation of captive companies. Mandated requirements are minimal and each application is treated individually. Our association will work with interested parties, affiliated service suppliers and regulators to assure the efficiency of formation and the ease of maintenance for all Missouri captives.