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Application Fees & Other Financial Information

Application Fee

$500

License/Renewal Fee

$300

Administration & Enforcement Fee

$250

Incorporation Fee

$75 minimum

Premium Taxes

$5,000 minimum*

$175,000 maximum

* A captive insurer is entitled to receive a nonrefundable credit of $5,000 applied against the aggregate taxes owned for the first year in which the captive insurer incurs any liability for the payment of taxes.

Premium Tax Rates

$ MILLIONS

DIRECT RATES %

REINSURANCE RATES

0-20

.400

.225

20-40

.200

.150

Over 40

.075

.025

Financial Requirements

MINIMUM CAPITAL & SURPLUS */**
Pure Captive: $200,000
Association Captive: $500,000
Agency Captive: $600,000
Rental Captive: $800,000
Sponsored Captive: $500,000

* Cash or irrevocable letter of credit. Letter of credit must be automatically renewable
and issued by a bank chartered in Nevada or a member of the United States Federal
Reserve System, and approved by the Commissioner of Insurance.

** Capital stock must not be issued at less than par value.

Applications and Forms