The captive insurance program in Nevada outperformed growth and speed expectations by approving 26 captives in 2014, which resulted in a captive premium increase of $3.8 billion, Insurance Commissioner Scott J. Kipper announced in March.
He said 2014 was once again a record breaking year for Nevada’s captive insurance industry. The state now has 160 domestic captive insurers, the most in the history of its captive insurance program.
Nevada continues to offer a rapid application approval process and pure captive application fees will continue to remain at just $1,050, Kipper said.
Nevada has licensed more than 200 captives since the inception of its captive insurance program in 1999. Industries listed among Nevada’s captives include: Bio-tech; alternative energy; multi-national transportation; manufacturing; and financial.
Topics Trends Pricing Trends
Was this article valuable?
Here are more articles you may enjoy.
SEC to Drop Controversial SolarWinds Cyberattack Lawsuit 
Insurance Customers Skeptical About AI Processes and Benefits 
AM Best Downgrades State Farm Mutual Auto 
AIG to Pay Neal $2.7 Million to Cover Previous Firm’s Bonus From This Issue
