TO AMEND THE LAW CONCERNING THE LICENSING AND REGULATION OF CAPTIVE INSURERS.

Arkansas SB 237 updates licensing rules for captive insurance companies, primarily adjusting minimum capital and surplus requirements based on the company type (e.g., increasing the required capital for association captive insurers from $250,000 to $400,000). It introduces a new provisional licensing process allowing temporary licenses under specific conditions, such as when the commissioner determines it serves the public interest. The bill also removes outdated definitions of "Commissioner" and "Department" from the statute. These changes directly affect captive insurers operating in Arkansas, including pure captives, sponsored captives, and association captives, by modifying their financial obligations and licensing pathways.