The Captive Insurance Company Amendment Act of 2026 aims to update the Captive Insurance Company Act of 2004 by revising various requirements for protected cell captive insurers, including their formation, capital, application processes, business transactions, premium taxes, and annual reporting. The bill also introduces standard requirements for inactive captive insurance companies and grants rulemaking authority to the Commissioner. These updates are necessary to keep the District's regulations aligned with evolving industry standards and to maintain its status as a leading regulator of captive insurance companies.

Key amendments in the bill include changes to terminology, such as replacing "articles of incorporation" with "articles of incorporation or organization," and expanding the definition of ownership to include "units or interests." The bill also establishes a process for expedited certification of protected cells and outlines the conditions under which a captive insurer can be placed in inactive status. Additionally, it clarifies the confidentiality of documents submitted under the Act and allows the Commissioner to require external reviews of applicants' qualifications. Overall, these changes are designed to enhance the regulatory framework for captive insurance in the District.