SB325 - Relating To Insurance.

1 Co-Sponsor

Requires sponsored captive insurance companies to maintain separate protected cells for separate participant contracts. Except for risk retention captive insurance companies, authorizes captive insurance companies to apply for a certificate of exemption from examination from the Insurance Commissioner, provided certain conditions are met. Requires protected cells established by sponsored captive insurance companies to be approved by the Insurance Commissioner. Authorizes sponsored captive insurance companies to establish and maintain protected cells to insure risks of parties unaffiliated with a participant under certain circumstances. Requires a participant, through a sponsored captive insurance company, to insure only risks approved by the Insurance Commissioner.