Types of Captives


Type

Statutory Min. C&S (§38-90-40)


Description

Association Captive

$750,000

Insures the risks of association members and affiliated companies.

Branch Captive

$250,000

A branch of an existing alien insurer which is licensed to write business in this state.

Industrial Insured Captive $500,000 Insures the risks of industrial insureds that comprise the industrial insured group and affiliates

Pure Captive

$250,000

Insures the risks of its parent, subsidiaries, and affiliates

Risk Retention Group

$500,000

Insures the liability-only risks of its owner/insureds. 

Special Purpose Captive

Case by case basis

A captive that does not meet the definition of any other type of defined captive. 

Special Purpose Financial Captive

$250,000

Created to facilitate insurance securitization and other similar transactions which enable insurers to improve capital utilization.

Sponsored Captives

$250,000


A captive that offers protected cells which may be incorporated or unincorporated.