The state of Nevada has announced that Insurance Commissioner Scott Kipper has approved NV Energy’s application to form a captive insurer.
According to a press statement, Nevada is home to the fourth most captive insurers. Currently, 125 active captive insurers call Nevada home, and the Division of
Insurance is on track to approve 14 more for the month of December.
The statement says captive insurers generated more than $1 million of
premium tax and fee income for the state in 2009.
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