24 January 2013USA analysis

South Dakota looks to sharpen its competitive edge

Speaking at Dakota’s recent State of the State address, Dakota Dunes Senator, Dan Lederman said that active steps were being taken by the state to make its captive sector more competitive in an increasingly crowded US field.  “Over the last two years I have met with experts in the captive insurance market, Lieutenant Governor Michels and the Division of Insurance to help draft legislation that makes South Dakota more competitive in this area. The product of this work is HB 1061, an act to revise the regulation of captive insurance companies which was introduced by the State Affairs Committee this week. If passed, our state will have an advantage in adding large capital deposits to our local banks while attracting the relocation or hiring of professionals in the insurance and accounting fields.”