2015 Oklahoma Captive Legislation

Posted by Matthew Moore on 02/02/2015

Mr. Gordon Amini, attorney for the Oklahoma Insurance Department's Captive Division, and Mr. Owen Laughlin, Former State Senator and Sponsor of the 2013 rewrite of the Captive Statute, announced proposed changes to the Oklahoma Captive law. Below is a list of highlights of what is being introduced in the Oklahoma House and Senate:

  • Allow a Protected Cell to be a Separate Legal Entity
  • Clarify Authority to Write "First Dollar" Workers Compensation and Occupational Injury
  • Apply Insurance Code Investment Provisions to Sponsored Captives
  • Expand the "Persons" who may "Sponsor" a Protected Cell Captive
  • Clarify Authority to Assume Reinsurance
  • Special Provisions for Protected Cell Insolvency

Recent Updates