Communication is the first step in the application process. Please bring your ideas to the Captive Bureau at the Department of Insurance so they can work with you from the beginning to create a captive that will meet your needs. The Captive Bureau can meet with you in person or via teleconference. Please contact Jamie Bafundo, Office Manager of the Captive Bureau, at firstname.lastname@example.org or 302.577.5281 to begin this process.
The second step in the application process is to build your application using the Bureau’s Application Checklist, found on the Captive Bureau website. Applications must include the following Authorized Service Providers: Actuary, CPA and Captive Manager. A captive may choose providers from the Insurance Department’s Authorized List of Service providers. If the captive chooses a service provider that is not found on the Authorized List, the service provider must file an application to be reviewed and approved by the Director.
After your application and any related documents are electronically filed, a financial analyst will be assigned to review your program and will work directly with you through application. An actuary will also be assigned to the application review and will contact you and/or your actuary if there are any questions or additional information needed.
Captive Company Application/Processing Fee: $300/$3,200
Series Captive Company Application/Processing Fee: $300/$3,200
Delaware Department of Insurance
Bureau of Captive and Financial Insurance Products
1007 North Orange St, Suite 1010
Wilmington, DE 19801