Washington legislature inspects captive bill
The Washington State Legislature is looking at a new bill that could allow the creation of captives in the US State.
HB 1842 - 2025-26 has been tabled in the legislature. If passed it will allow public utility districts in the State to form, own, or use captive insurers.
The introductory version of the bill says that it: “is intended to provide the exclusive source of local government entity authority to individually or jointly self insure risks, jointly purchase insurance or reinsurance, become a captive owner as defined in RCW 48.201.020, and to contract for risk management, claims, and administrative services.”
According to an analysis of the bill created by the Washington Legislature: “a public utility district (PUD) is a type of special purpose district authorised for the purpose of generating and distributing electricity, providing water and sewer services, and providing telecommunications services. A PUD may operate on a countywide basis or may encompass a smaller jurisdiction. However, most PUDs have jurisdictional boundaries that are coextensive with a county and function as a regional governing body with respect to providing their statutorily authorised services to the public.”
The bill will go to a committee for scrutiny before further progress is made.
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