Non-Traditional Company Filings
Non-traditional company filings include filings for captives and limited risk entities.
A captive is an insurance company created to insure the risks of its members. Companies, both large and small, have found that forming a captive allows them to better manage the cost and administration of their insurance coverage needs.
Limited Risk Entities
The Limited-Risk Entities Division regulates (1) a growing and constantly evolving community of niche market insurance entities that bear little to no risk, and (2) certain risk-bearing entities that fall outside of the traditional insurance company framework.
Any unauthorized assuming insurer that meets the Department’s requirements may qualify as a Certified Reinsurer.