The office will be closed Thursday, November 23th, and Friday, November 24th, in observance of Thanksgiving Day and the Day After Thanksgiving.

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Captive
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 and satisfy our regulatory framework. We are available to meet in person or by teleconference. 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 and the application fees are posted, a financial analyst will be assigned to review your program and will work directly with the contact person indicated on 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. They should be mailed to our Wilmington office. No binder or notebook is required.

Once the program is licensed, we request an email or a CD containing .pdf scans of all executed organizational documents, agreements, and contracts for the Organizational Exam.

The Captive Insurance Company and the Series Captive Insurance Company both require the Application fee $300 and Processing Fee $3,200.
 

A check for the $3,500 Application/Processing fees and a copy of the Application (Form A-1 or A-2) are mailed to:
Delaware Department of Insurance
Captive Tax Section
841 Silver Lake Blvd.
Dover, DE 19904
           
The original Application (Form A-1) or (Form A-2) and the original Biographical Affidavits are mailed to:
Delaware Captive Bureau
1007 North Orange Street
Suite 1010
Wilmington, DE 19801

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