The underlying principle of captive insurance is taking control of your own risk management. Many companies find that starting and operating their own captive insurance company is a better option than relying on third party commercial carriers. 

But operating a captive insurance company requires a team of outside experts, including attorneys. Womble Bond Dickinson is here to help, with attorneys who have years of experience advising clients in implementing captive insurance programs, allocating and managing risks, and achieving expected returns.

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Our Services

We guide captive owners and captive managers at every stage in the life cycle of a captive, including:

  • Planning and design of captive insurance companies, including selecting the right type of legal structure and the proper domicile for the company;
  • Forming and implementing captives. For example, we advise on initial licensing requirements;
  • Structuring and managing risk-sharing agreements;
  • Advising corporate leaders and shareholders in their oversight role. This includes helping clients prepare required documents and conduct annual meetings.
  • Negotiating with state regulators for approval of proposed programs and business plan changes.
  • Guiding captives in federal Insurance Holding Company Regulatory Act compliance;
  • Managing insurer and insured federal, state and local tax issues;
  • Drafting insurance policies; 
  • Conducting claims review, approval, adjudication and administration;
  • Managing reinsurance and collateral arrangements; 
  • Advising on mergers and corporate transactions, as well as captive windup and dissolution. 

For captive owners, we advise on corporate governance matters and the structure of their captive. We also provide registered agent and resident director services in several domiciles. We help captive owners solve problems, including extricating themselves from captive programs when desired. In addition, we guide owners in captive exit strategies and reformation as well as redomestication from one domicile to another.
Womble is present in such captive domiciles as Delaware, Alabama, the District of Columbia, Georgia, North Carolina, South Carolina, Tennessee and Texas. We also have captive insurance experience in Arizona, Connecticut, Hawaii, Kentucky, Missouri, Montana, Nevada, New Jersey, Oklahoma, and Utah, as well as offshore jurisdictions such as the Cayman Islands, Barbados, Nevis and Anguilla. State and national industry associations have called our partners to serve in top leadership positions. 

Representative Matters

  • Outside general counsel for a captive manager with operations in 4 domiciles and with 700 captives under management.
  • Assisted a captive manager in resolving regulatory issues and re-domesticating its entire portfolio of clients.
  • Designed and implemented several risk distribution pooling vehicles for captive clients. 
Need legal advice and guidance in captive insurance?
Our team is able to help provide solutions to you and your organization. Browse through our lawyers and professional staff to find the right attorney near you.
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