Experienced Legal Counsel For Captive Insurance Company Set-up and Operations
Setting up a captive insurance company comes with many benefits. Namely, it can reduce the overall cost of commercial insurance programs and centralize an organization’s risk management functions while smoothing its cash flow. Additionally, it may be able to offer commercial coverage when such coverage is either cost-prohibitive or unavailable in the traditional insurance marketplace. Captives also provide access to reinsurance markets that are generally only available to commercial insurers.
Hawai’i is the premier captive domicile of the Pacific, measured in terms of the number of captives formed and operated, the supporting infrastructure available and the premium underwritten. Many of the world’s largest and reputable companies formed and operate their captive insurance companies in Hawai’i.
The experienced attorneys at Goodsill handle a wide variety of related matters, including captive formations (i.e., pure/single parent, risk-retention groups and protected cells), conversions, mergers, liquidations, redomestications, coverage matters, policy drafting and reinsurance trusts. We also assist our captive insurance clients with diverse and sophisticated corporate transactions, corporate governance and best practice issues, and other general insurance regulatory matters. Our captive insurance attorneys have more than seven decades of collective experience representing captive insurance companies in Hawai’i.