NC | North Carolina Insurance Commissioner Mike Causey announces today that the state of North Carolina is now the third largest domicile for captive insurance companies in the U.S., trailing only Vermont and Utah.
A captive insurance company is a type of self-insurance that businesses use to manage their own risks. A ‘domicile’ is the country, state or territory that licenses a captive insurer and has primary regulatory oversight over that insurer. The captive’s primary jurisdiction, be it a state, territory or other jurisdiction, is known as its “domicile”.