The Department encourages all companies interested in forming a captive to contact one of the approved managers. The prospective captive owner can rely on the manager's expertise in this area. If at any point you wish to contact the Department directly, please feel free to do so!
At the bottom of this page are links to application forms for admission as a captive insurance company together with a sample letter of credit form and biographical affidavit form. Special Purpose Financial Captives may be subject to different instructions and forms. If you are forming a Special Purpose Financial Captive, please contact us directly to obtain additional information.
Captive insurance refers to a subsidiary corporation established to provide insurance to the parent company and its affiliates. A captive insurance company represents an option for many corporations and groups that want to take financial control and manage risks by underwriting their own insurance rather than paying premiums to third-party insurers. The advantages of going captive are: