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Archived stories from 2015

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Two states buck captive trend

In shocking news, it has been revealed that at least two US states are not intending to enact any form of captive legislation. The identity of the two states cannot be revealed for security reasons, but they are believed to be situated in the North or South of the country, or possibly somewhere in the mid-West.

Captive legislation is becoming a vital element for any state, because of the literally dollars? worth of income it generates, and the creation of at least one job (head of captive licensing). It is also seen as a boon for brass plate manufacturers, and for independent insurance consultants looking for non-executive positions on captive boards.

One of the states is believed to have completely ruled out any form of captive involvement at any point, whereas the other released a statement which said it had no interest in captives ?for the foreseeable future, or until the Feds make us.? The decision of the two states is considered by observers to be particularly bizarre, as both are thought to have active captive management associations, with members including lawyers, accountants, insurance consultants, brokers, and captive managers.

A spokesman for the one of the states involved said in an anonymous press release: ?We believe that in the near future, all territories on earth, or at least, all the US state apart from us (and that other one, probably) will have enacted captive legislation and become a captive domicile. We see the value proposition in remaining outside of the captive paradigm. Companies will be clamouring to set up insurance companies in our state precisely because we don?t have captive legislation. Mark my words. Then who will be laughing.?

The other state released a statement on Twitter than read: ?We don?t follow the herd. We are individuals. We are true to ourselves. We are outside of society, outside of the system. Don?t conform. #lemmings?

Other news from Dec 2015
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