The commissioner may adopt rules establishing standards to ensure that a parent or affiliated company is able to exercise control of the risk management function of any controlled unaffiliated business to be insured by the pure captive insurance company. Until such time as rules under this section are adopted, the commissioner may approve the coverage of such risks by a pure captive insurance company.
Structure West Virginia Code
§33-31-2. Licensing; Authority
§33-31-4. Minimum Capital and Surplus; Letter of Credit
§33-31-6. Formation of Captive Insurance Companies in This State
§33-31-7. Reports and Statements
§33-31-8. Examinations and Investigations
§33-31-9. Grounds and Procedures for Suspension or Revocation of License
§33-31-12. Rating Organizations; Memberships
§33-31-13. Exemption From Compulsory Associations
§33-31-14. Tax on Premiums Collected
§33-31-16a. Laws Applicable; Risk Retention Groups
§33-31-18. Rules for Controlled Unaffiliated Business
§33-31-19. Conversion to or Merger With Reciprocal Insurer
§33-31-20. Branch Captive Insurance Company Formation