Florida lures captive insurance companies with new law
A new law that lowers capital requirements is predicted to augment captive insurance in Florida. The law, which takes effect on the 1 July, was commended by governor Rick Scott as he spoke with business leaders in Miami.
Florida currently hosts no captive insurers and faces stiff competition for them from dozens of states including Vermont, Delaware, South Carolina, Hawaii, Missouri, Montana and the District of Columbia.
The new law requires captive insurers based in Florida to hold at least one annual board meeting in the state.
