Montana is a favorite state for West Coast clients who wish to form a captive. The state is known especially for its openness to Risk Retention Groups, and there is flexible administration of the existing laws including a Special Purpose captive designation that allows for potentially reduced capital requirements. The regulatory staff are experienced and excellent to work with.
New Jersey is a relatively new entry into the captive insurance world but it has come on strong, especially for parent companies domiciled in the state. The application process is straightforward, and the department staff are seasoned and professional.
North Carolina had an initial focus on small micro-captive formations, but has become a very business friendly domicile for larger captives as well. The application process is straightforward, and the department staff are experienced and open-minded. North Carolina is well suited to regulate Risk Retention Groups.
Tennessee is quickly becoming the fastest growing domestic captive domicile. A business friendly state, combined with one of the best captive insurance department staff, makes Tennessee a domicile alternative that should be considered by almost anyone interested in a captive.
Utah is a long time host of captive insurance entities. In recent years their primary focus has been on the licensing of micro captive programs, although the department is open to all types of captive structures. It is a convenient domicile for West Coast clients. Utah is a business friendly state and the captive insurance department is flexible in the application of the captive insurance law.