In consultation with the client, Taft identifies appropriate fronting and resinsurance underwriters and forms the professional team of actuary, attorney and auditor. One or more domiciles are considered for the captive’s regulatory home. The license application to the selected domicile will include these major elements:

• The domicile’s licensing application forms.

• Actuarial feasibility study.

• Biographical affidavits.

• Confirmation of client’s capital & surplus account.

• Copies of all professional service engagement letters.

While “fast-track” captives have been licensed within 30 days, the process generally requires 90 to 120 days or longer, depending on the complexity of the program. This is a turnkey service provided by Taft within the scope of the initial engagement.

Taft continues to provide management services for licensed captives including “mind and management,” regulatory interface, accounting and auditing, legal and adjudicating claims.

formation and management services