Montana Senate Bill 28 (the Bill) was signed into law by Governor Greg Gianforte on March 8, 2021 and provides exam relief to some captive insurance companies. The Bill amends Montana Code Annotated, Section 33-28-108, Examinations and Investigations and removes the requirement that all captive insurance companies must be examined no less frequently than every five years. Montana domiciled captive insurance companies are now subject to examination, “as often as the commissioner considers advisable”. Risk Retention Groups are still required to be examined at least once every five years.
The Anderson ZurMuehlen Insurance Specialty Team is proud to be a resource to you. If you have questions regarding Montana Senate Bill 28, Montana Captive Insurance law, or exam relief, please contact us.
Connect with our Insurance Specialty Team Lead, Grace McKoy, CPA, CVA and Shareholder in our Missoula office.