Number of active captives (pure)
Number of active captives (group/association)
Number of active captives (RRG)
Number of active captives (sponsored/cell captives)
Number of individual cells/cell participants
Total number of active captives, as of 12/31/2018
Types of captives allowed
- Single parent captives
- Association captives
- Group captives
- Risk retention groups
- Special purpose captives
Number of full-time employees in captive regulatory department
Premiums to surplus
Traditional insurance guidance recommended as a best practice.
Minimum capital (broken out by type of captive)
Pure = $250,000; Sponsored = $1,000,000 ($350,000 minimum from Sponsor); Association = $750,000; RRG = $700,000
Applicable Acts/Enabling Legislation
Utah Code Annotated Title 31A Chapter 37, Captive Insurance Companies Act
Contact information for captive Administrator
Time given for application process
We request a week, or two at the most, to review the initial application assuming we have a full packet. If everything appears appropriate we issue a Certificate of Public Good which then puts the ball in the applicant's court to finish the process at their leisure; forming the corporation, capitalizing, executing finalized documents and paying the necessary fees.
Time given for operational plan changes
Are Exams done by own employees or by contract?
What is the examination cycle by type of captive?
5 years for all captive types; all may qualify for audit-in-lieu of examination.
Cost of exam range by pure? Average price?
Cost of exam range by RRG? Average price?
State domicile association name and website