General Information about Captive Insurers
Captive Insurers are an important alternative to traditional insurance because they enable businesses to control and customize their insurance costs and coverages in a manner that is more responsive to their financial objectives.
Noteworthy attributes of forming a captive include:
- Address availability and affordability issues
- Customize insurance program
- Reduce total cost of risk
- Stabilize premium
- Retain underwriting and investment income
- Increase control over claims process
- Access reinsurance market
- Improve consolidated tax position
Since the inception of its Captive program in 2002, Arizona has become a leading captive insurance domicile in the US. The Arizona Department of Insurance offers a stable, responsive, cohesive team of insurance professionals who have the necessary expertise and experience to foster a competitive, sound, and market-responsive captives program. We know there are many choices when selecting a captive domicile and we are proud that so many captives have selected Arizona as their preferred state of domicile!
If you are interested in discussing the formation of a Captive insurer in Arizona, please call us!
We are aware of a phishing scam targeting insurance professionals claiming that the National Association of Insurance Commissioners received a complaint that the professional submitted a falsified claim. This fraudulent email displays the NAIC and CIPR logos, can originate from what appears to be an naic.org or gmail.com email account, and instructs the recipient to click on a link to download the complaint notification.
Certain antivirus products will detect this as a malicious email. If you receive a similar email and have any concerns, contact the NAIC Service Desk at (816) 783-8500 or [email protected].