Mark the Date!  July 19-21, 2010 The Montana Captive Insurance Association Conference in Whitefish, Montana.  ORG is a proud sponsor and member of the MCIA and is presenting a session entitled "SAPpy GAAP and IFRS on the Horizon: Implications for Insurance Company Financial Statements." Visit www.mtcaptives.org to download the conference brochure and to register.

January 2010:  MCIA has signed on as the official sponsor of the alternative risk transfer educational track of the Self-Insurance Institute of America, Inc. (SIIA) National Conference & Expo, scheduled for October 12-15, 2010 in Chicago. The SIIA event is the world’s largest business conference & trade show dedicated exclusively to the self-insurance/alternative risk transfer marketplace. Additional information about SIIA and its conference can be accessed on-line at www.siia.org.

March 2009:  Montana passes HB160 that will further strengthen Montana’s position as a premier captive domicile.   Under the new law, Montana-licensed captives will now be able write surety and marine insurance. The maximum premium tax remains at $100,000 per year, with a pro-rated payment schedule now applicable for first year captive insurance companies subject to the minimum tax to help reduce front-end organizational costs. The bill codifies the commissioner’s authority to waive the costly risk based capital (RBC) report for risk retention groups in existence for less than two years. With regard to the formation of captives, the number of required organizers has been reduced from three to one. Providing additional flexibility for RRG investments, the law gives the commissioner discretion to approve up to 20 percent of admitted assets in rated credit instruments in any one investment that meets certain statutory requirement for RRGs with total admitted assets of less than $5 million.

May 2007:  ORG launches its new website www.orgcaptives.com.  In addition to updated news, information, and case studies, ORG clients can use the site to request certificates of insurance using the Help and Support menu. 

May 2007: Montana has licensed more than 25 captives and RRGs and anticipates continued strong growth in the number of licenses in 2007, according to John Huth, Captive Coordinator with the Montana Insurance Commissioner's Office.

April 2007: Montana's new captive insurance regulations were approved by landslide votes in the House and Senate during the  2007 legislative session, demonstrating the state's continued support in maintaining its pro-captive business climate.  ORG was instrumental in drafting key provisions of SB161.  Visit our Resources section to learn how SB161 will offer more flexibility and lower costs for Montana captive insurance companies.

March 2007: The Montana Captive Insurance Association hosts a booth at the Captive Insurance Companies Association conference in Tucson, Arizona, increasing the state's visibility among captive service providers and prospective captive owners.  ORG provided staff to man the booth along with Steve Matthews, Chief Examiner for the Montana Department of Insurance.

January 2007:  ORG reports that it licensed 4 new Montana captive insurance companies in the fourth quarter of 2006.  The new captives are insuring workers compensation, product warranty, property insurance, environmental liability, employment liability, general liability, and errors & omissions exposures.  Coverage is being written throughout the US, Canada, Europe and Asia.

December 2006:  ORG Captive Management licensed Montana's first foreign owned captive insurance company.  Montana was chosen as the captive's domicile because of its proximity, lower cost of doing business, superior reputation, advantageous tax structure, and its ability to better address US risks from the Canadian parent's acquisitions and business expansions southward.

September 2006:  ORG hires Patrick McCabe as Financial Services Leader.  McCabe is responsible for delivering captive insurance company and RRG accounting, finance and tax advice, and regulatory filing compliance services to ORG's clients.  McCabe has bachelors degrees in accounting and finance along with 15 years experience in tax and accounting.

August 2006: The MCIA's Annual Summer Conference in Big Sky, Montana attracted over 60 people from across the US wanting to learn more about Montana's captive insurance opportunities, service providers, and captive insurance regulators.  ORG sponsored events for conference attendees.

May 2006: Tal Redpath is hired as Captive Insurance Examiner for the Montana Department of Insurance, bringing years of insurance expertise and business friendly processes to the department's captive regulatory services division.

April 2006:  Brenda Olson, President of ORG, is elected to become the first Chairperson of the newly formed Montana Captive Insurance Association.  The MCIA's mission is to promote Montana as a leading captive domicile and to provide professional and educational opportunities for its members.

January 2006: ORG recently licensed a risk retention group for a physicians group based in the Northwest.  The RRG replaces a Cayman Island captive insurance company which was formed in 2003 to insure the group's medical malpractice exposures.

 Montana Captive Insurance News is the definitive source for the latest news affecting Montana captives.