Texas allocates budget to hire captive specialist
The Texas Captive Insurance Association (TxCIA) has allocated budget to the Texas Department of Insurance (TDI) that will allow it to retain a captive insurance specialist to support captive insurance oversight and related activities in the Texas captive insurance market.
The budget has been allocated in the 2024–2025 biennium budget recently approved by the Texas Legislature and signed into law by Governor Greg Abbott.
TxCIA said the move is expected to enhance the efficiency of the Texas captive insurance market and the ability of Texas to attract new captive investments in the state. It also offered thanks to Senator Charles Schwertner (R-Georgetown) and Representative Ed Thompson (R-Pearland) for sponsoring the appropriation and shepherding it through the appropriations process.
