Utah's effort to attract captive insurers has moved into high gear in recent weeks with the formation of a captive association and the insurance department's recruitment of a full-time director.
A total of 19 captives are currently domiciled in the state, which has had a captive authorization act on the books for the past three years.
Captive boosters hope the amendment last year to the Captive Insurers Act abolishing the premium tax in favor of a single $5,000 annual fee will help promote the site for companies or groups looking to set up their operations in the state.
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