Temporary moratorium on licensing or registration of new captive insurers and risk retention groups in Alabama

[LOGO] KAY IVEY GOVERNOR MARK FOWLER COMMISSIONER STATE OF ALABAMA DEPARTMENT OF INSURANCE 201 MONROE STREET, SUITE 502 POST OFFICE BOX 303351 MONTGOMERY, ALABAMA 36130-3351 TELEPHONE: (334) 269-3550 FACSIMILE: (334) 241-4192 INTERNET: www.aldoi.gov DEPUTY COMMISSIONERS JIMMY W. GUNN LARRY CHAPMAN RICHARD FIORE CHIEF EXAMINER SHEILA TRAVIS STATE FIRE MARSHAL SCOTT F. PILGREEN GENERAL COUNSEL REYN NORMAN # BULLETIN 2025-01 TO: Entities interested in acting as captive insurers or risk retention groups in Alabama; captive managers FROM: Mark Fowler Commissioner of Insurance Mark Fowler RE: Temporary moratorium on licensing or registration of new captive insurers and risk retention groups in Alabama DATE: March 3, 2025 EFFECTIVE: Immediate Effective this date, the Alabama Department of Insurance will not accept or process new filings for registration or licensing of captive insurance companies and risk retention groups. Interested captive insurance companies, risk retention groups, or captive managers acting on behalf of captive insurance companies or risk retention groups are requested not to submit application packages or fee payments for applications during the moratorium period. This moratorium is temporary and may last six months or for a shorter or longer time period. The exact length of the moratorium will be the subject of a later issued Bulletin. This Bulletin does not apply to applications submitted before this date and already in the review process. Those applications will be processed, reviewed, and acted upon as soon as practicable. Please direct any questions about this Bulletin to the Department's Examination Division at ExaminationDivision@insurance.alabama.gov. MF/JFM Alabama Department of Insurance Established 1897