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What is a Captive?

A captive is an insurance company created by its parent company to insure its risk(s) and better manage its costs. Captives are essentially a form of self-insurance whereby the insurer is owned wholly by the insured. They are typically established to meet the risk-management needs of the owners or members. The type of entity forming a captive varies from major multinational corporations to small nonprofit organizations. Once established, the captive operates like any commercial insurance company and is subject to state regulatory requirements, including reporting, examination, capital and reserve requirements. 

In 2014, Governor Kasich signed into law House Bill 117, legislation allowing Ohio businesses the ability to form captive insurance companies in the state, making Ohio the 30th state to become a captive domicile in the United States. This new law provides significant new opportunities for Ohio businesses to better manage their own risk by insuring themselves instead of seeking insurance in the commercial market.

Types of Captives:

Captive Authorized Lines of Insurance:

  • Commercial Auto Liability
  • Commercial Auto Physical Damage
  • Commercial Multiple Peril
  • Fidelity
  • Inland Marine
  • Life
  • Medical Malpractice
  • Ocean Marine
  • Other Lines (at the Superintendent's discretion)
  • Workers Compensation (excess only) 


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