Setting up a captive insurance company comes with many benefits. Namely, it can reduce the overall cost of an insurance program and centralize risk management. Additionally, it can provide insurance coverage where such coverage is either cost prohibitive or unavailable in the traditional market, and captives can improve an organization’s overall cash flow. Captives also provide access to reinsurance markets that may otherwise have been unavailable.
Over the years, Hawai‘i has become the premier captive domicile of the Pacific, measured in terms of the number of captives formed and managed, the supporting infrastructure available and premium underwritten. Many of the world’s largest and reputable companies have formed and operate their captive insurance companies in Hawai‘i.
Goodsill’s experienced attorneys handle a wide variety of related matters, including captive formations (i.e., “pure”, risk retention groups, and other group captives), conversions, mergers, liquidations, redomestications, coverage matters, policy drafting, and reinsurance trusts. We also assist clients with diverse corporate transactions, corporate governance and best practice issues, and other general insurance regulatory matters to ensure that your captive insurance business complies with applicable law and regulations.