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Captive Insurers

Captive insurance is a regulated form of self-insurance, in which the insurer is owned wholly by the insureds. It is organized for the purpose of self-funding the owners’ risks. Currently, Nevada, which is known for being a business-friendly state, ranks 4th in the nation as a domicile for captive insurers. Why is it so attractive? Among many contributing factors is its no personal or corporate tax structure and a readily available, knowledgeable and responsive Insurance Division staff. Nevada also offers a tax credit of up to $5,000 applicable to the first year of a captive’s acquisition of a Certificate of Authority. Find out more.

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With more than a decade of experience in the captive insurance industry, you can trust in the strength and stability of Nevada.
 
Nevada's sharp focus on expanding into renewable energy, information technology and other critical new sectors of the future underscore a bright economic future.
 
From graduate labs to K-12 classrooms, Nevada emphasizes science, technology, engineering and mathematics to build the competitive workforce of tomorrow.
 
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Nevada's pro-business policies and tax structure mean Nevada businesses hold on to more of their profits.
 

Application Process

Communication is the first step in the application process. Please bring your ideas to us so we can help you determine which type of captive insurance company will meet your needs. Initiate discussions regarding a potential application by calling (775) 687-0748 or e-mailing captives@doi.nv.gov. Division staff will provide the requisite guidance for initiating the application process.

Once you and our team have determined which type of captive insurance company will best meet your needs, you can begin building your application by following the Application Checklist.

Applications must include the following Authorized Service Providers: Actuary, Certified Public Accountant, Captive Managers, and Attorney licensed to practice in the State of Nevada. If the providers that you choose are not on the Approved Service Providers list the service provider must file a resume and Biographical Affidavit with the application to be reviewed and approved by the Commissioner. Please note, we do not require hard copies of all the application documents, but we will request the original signed Application (Section 1) and the original Biographical Affidavits.

After your application and any related documents are electronically filed with us, a financial analyst will be assigned to review your program and will work directly with the Captive Manager of your company. An actuary will also be assigned to review the application and contact you if any additional information is needed.

The Captive Company Application Processing Fees:

Application fee: $500.00
Administration & Enforcement Fee: $250.00
Licensing Fee: $300.00
Pure Reviewer Firm Fee: $4,000.00
Non-Pure Reviewer Fee: $5,000.00

The fees may be paid by mailing payment to:

Nevada Division of Insurance
Captive Program
1818 East College Parkway, Suite 103
Carson City, NV 89706

Licensing

Approved Lists

Forms

Captive Insurer Application

Irrevocable Letter of Credit  

Captive Insurance Premium Tax Return

Uniform Consent to Service of Process

Biographical Affidavit

Additional Resources

Nevada Commission on Economic Development is an excellent resource for finding information about establishing and growing your business in Nevada.