Captive-friendly Alabama House Bill praised by former regulator

Travis Bowden, president of Crossroads Risk Management and former Georgia Department of Insurance Captive Insurance division Supervisor, has applauded Governor Ivey’s enactment of Alabama House Bill 415 on 15 April, 2026.

According to Bowden House Bill 415 is the first new piece of legislation that aims to support Alabama’s captive insurance companies and risk retention groups in many years. The bill calls for modernised language on formation, renewal requirements and solvency requirements to be provided to captive companies and risk retention groups. It is hoped that these new requirements will lead to the end of the 2025 Alabama moratorium on new entity formations for captive entities and risk retention groups.

“By enacting House Bill 415 into law, Governor Ivey has once again helped to strengthen Alabama’s commitment to the financial services industry,” said Bowden. “This bill comes at an ideal time as captive management firms like Crossroads assist businesses and groups looking to seek specialised risk management options.”

Alabama’s Department of Insurance issued a moratorium on new applications for captive and risk retention group entities in mid-2025. This was in part due to a need for modernising language to help address issues on solvency requirements, filing mechanisms and renewal needs.

“As I spoke with many members of the Alabama State House of Representatives and State Senate on this legislation, the value of Alabama’s role as a leader in the customised, self-insurance sphere was strongly agreed upon,” Bowden continued. “Captive insurance companies and Risk Retention Groups continue to provide more bespoke options for entities as they grow and expand their operations. On behalf of the Captive Insurance industry, I thank Governor Ivey and HB 415’s sponsors for their leadership!”

Crossroads Risk Management is a national captive insurance management and regulatory consulting firm based in Atlanta, Georgia and approved in many key domiciles across the United States.

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