Until 12/31/2031, specifies that captive insurance companies that are not risk retention captive insurance companies are subject to examination no later than five years after licensure and any additional examination at the discretion of the Insurance Commissioner. On or after 1/1/2032, subjects captive insurance companies that are not risk retention captive insurance companies to examination at least once every five years. Requires the Insurance Commissioner to submit a report to the Legislature before the Regular Session of 2031. Effective 7/1/2026. (CD1)