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Captive Insurance

Captive Insurance is an alternative to traditional insurance that enables businesses to control and customize their insurance program in a manner that is responsive to their  financial objectives.

Noteworthy attributes of captive insurance include:
  • Tailored coverage, deductibles, limits and rates
  • Premium stability
  • Improved cash flow
  • Increased control over loss programs and claims handling
  • The potential to affordably insure new and/or previously uninsurable risks
  • Underwriting gains and investment income
  • Direct access to the reinsurance market
  • Tax benefits
Ohio's Office of Captive Insurance:
  • Supports a business environment for the growth and prosperity of the captive insurance industry in Ohio
  • Provides a structured regulatory process for the initial evaluation, licensing, reporting, analysis and examination of captive insurance companies domiciled in Ohio
  • Reviews captive insurance company strategies and their execution to assess and evaluate operational success and financial strength
  • Works to ensure that captive insurers can meet their contractual and financial obligations
  • Strives to understand the impacts of financial, operational and underwriting (risk acceptance) challenges on captive capital and surplus
  • Establishes standards for business/professional support organizations that work with captive entities in the state of Ohio, including;
    • Captive Managers
    • Accountants/Auditors
    • Actuaries
Ohio Advantages:
  • Business-friendly
  • Reasonable licensing and on-going monitoring requirements
  • Timely admissions
  • Moderate premium tax and fees
  • Accessible and responsive regulator
Captives Resource Center​
Information
Captive Insurance News

 

 

 

 


The State of Ohio is an Equal Opportunity Employer

Ohio Department of Insurance
50 W. Town Street, Third Floor - Suite 300
Columbus, Ohio  43215
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John Kasich, Governor | Jillian Froment, Director
General Info: 614-644-2658 | Consumer Hotline: 800-686-1526
Fraud Hotline: 800-686-1527 | OSHIIP Hotline: 800-686-1578