Montana Senate Bill 28 (the Bill) was signed into law by Governor Greg Gianforte on March 8, 2021. 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 or Montana Captive Insurance law, please contact us.