AL| Bulletin No. 2025-01, issued by the Alabama Department of Insurance on March 3, 2025, announces a temporary moratorium on licensing or registration of new captive insurers and risk retention groups in Alabama, effective immediately. The bulletin requests interested parties not to submit new application packages or fee payments during this period. The moratorium’s duration is not specified but may last six months or potentially shorter or longer, with the exact length to be announced in a future bulletin.
Key points:
- The moratorium is effective immediately but does not affect applications already under review.
- The temporary measure applies to new filings for both captive insurance companies and risk retention groups.
