Del. Bill Seeks To Boost Captive Insurance Business

Law360, New York (January 29, 2010, 7:04 PM EST) -- A Delaware legislative committee has voted to advance legislation that would enable the state to license additional types of captive insurers, which are established by businesses to handle specific insurance needs and are often based offshore.

The state’s House of Representatives Economic Development/Banking/Insurance/Commerce Committee voted 6-0 to in favor of the bill, formally titled An Act to Amend Title 18 Relating to Captive Insurance Companies, according to legislative records.

The committee noted that the bill would provide economic development opportunities for the state.

The proposal would...
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