It used to take a long time, in many cases a year or more, for a business to set-up a captive insurance company. And stories about the long road many companies faced in setting up their captive arrangement linger on, often in the minds and lore of “old guard” captive managers and attorneys who were able to charge larger fees by leading captive candidates through a long, over-analytical, dragged-out process to set up their own insurance company. This perception was further aided by domiciles and regulators who made the process unnecessarily arduous.
Fortunately, much has changed in the captive industry over the last ten years, making a past reality that “It Takes Too Long To Set Up A CIC” our choice for Myth #8. Continue Reading