Forming a Captive
The process of incorporating a captive insurer in Oklahoma and applying for a license from the Oklahoma Insurance Department will involve the following steps:
- Your approved manager will arrange a meeting with the Company and the Oklahoma Insurance Department’s captive staff to discuss the proposed captive and obtain initial reactions from the Department.
- Prepare documents necessary for organization. The services of a local lawyer may be desirable.
- Prepare documents necessary for application to the Department (See Captive Forms for these items).
- Submit one copy of all materials in numbers (2) and (3) above to the Oklahoma Insurance Department for review. Include a $200.00 review fee and a $300.00 license fee.
Oklahoma Insurance Department
Oklahoma Secretary of State
Director of Workers' Compensation and Captive Insurance
Assistant General Counsel
Financial Specialist II
John Doak | captive insurance times | captiveinsurancetimes.com