,,ii  #aacth ,,congress  #b;d ,session  
,s4 #bgbf  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,july #ca1     
#bjad ,mr4 ,leahy 7for himself and ,mr4 
,graham7 introduced the following bill2 
which was read twice and referred to the
 ,committee on ,banking1 ,housing1 and  
,urban ,affairs  ,a ,,bill  ,to clarify 
the definition of nonadmitted insurer   
under the ,nonadmitted and ,reinsurance 
,reform ,act of #bjaj1 and for other    
purposes4  #a4 ,short title  ,this ,act 
may be cited as the ,captive ,insurers  
,clarification ,act4  #b4 ,captive      
insurers ,section #ebg of the           
,nonadmitted and ,reinsurance ,reform   
,act of #bjaj 7#ae ,u4,s4,c4 #hbjf7 is  
amended-- 7#a7 by redesignating         
paragraphs 7#d7 through 7#af7 as        
paragraphs 7#e7 through 7#ag71          
respectively2  7#b7 by inserting after  
paragraph 7#c7 the following3  7#d7     
,captive insurance company ,the term    
captive insurance company includes any  
insurance company-- 7,a7 that is wholly 

owned1 directly or indirectly1 by a     
single parent company1 and whose primary
 purpose is to provide insurance to     
cover the risks of such single parent   
company or any affiliates of such single
 parent company2  7,b7 that is wholly   
owned1 directly or indirectly1 by a     
group of companies1 and whose primary   
purpose is to provide insurance to cover
 the risks of such group of companies or
 any affiliates of such group of        
companies2 and  7,c7 that is wholly     
owned1 directly or indirectly1 by an    
industry1 trade1 or service group or    
association1 and whose primary purpose  
is to provide insurance to cover the    
risks to any member in such group or    
association or any affiliate of such    
member4  2 and  7#c7 in paragraph       
7#ab77;,b71 as so redesignated-- 7,a7 by
 striking 7,b7 does not include a risk  
retention group and inserting the       
following3  7,b7 does not include-- 7i7 
a risk retention group  2  7,b7 by      
striking the period at the end and      

inserting 2 or2 and  7,c7 by adding at  
the end the following3  7ii7 a captive  
insurance company4  4