Insurance Program

Application Process

photo of someone filling out an application

Communication is the first step in the application process. Please bring your ideas to us so that we can help you create a captive insurance company that will meet your needs. We can meet with you or teleconference with you. Please call Jamie Bafundo at (302) 577-5281 to get this process started.

Once you and our team agree that you should apply, you can build your application by following the APPLICATION CHECKLIST.

Applications must include the following Authorized Service Providers: Actuary, CPA and Captive Manager. If the providers that the captive chooses are not on the following list AUTHORIZED SERVICE PROVIDERS the service provider must file an application and BIOGRAPHICAL AFFIDAVIT to be reviewed and approved by the Director. Please note these documents can be emailed to us, but before approval, the original documents should be mailed to our office.

After your application and any related documents are electronically filed with us, a financial analyst will be assigned to review your program and will work directly with the contact person indicated in the Application for Admission. An actuary will also be assigned to the application review and will contact you and/or your actuary if there are any questions or additional information needed.

We do not need hard copies of all of the application documents, but we do require the original signed Application and the original Biographical Affidavits. No binder or notebook is required. Once the program is licensed, we request an email or a CD that contains pdf files of all executed organizational documents, agreements, and contracts for the Organizational Exam.

The Captive Company and the Series Captive Insurance Company Application/Processing Fees are both $3,500.

The fees may be paid by mailing payment to:
Delaware Department of Insurance
Bureau of Captive and Financial Insurance Products
841 Silver Lake Blvd.
Dover, DE 19904

Related Topics:  , , , , , , , ,