disb

Department of Insurance, Securities and Banking
 

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Forming a Captive in the District of Columbia

Thinking about a captive? Here are 5 steps to apply for a license and incorporate a captive insurer in DC:

Generally, the process of incorporating a captive insurer in Washington, DC, and applying for a license from the Department of Insurance, Securities and Banking (DISB) will involve the following steps. DISB will process properly documented applications within thirty (30) days:

  • Arrange a meeting or a call with the Director of the Risk Finance Bureau and representatives of the captive to discuss the proposed business plan of the captive and obtain initial reactions from the Department.
  • Select a Commissioner-approved management firm. See captive domicile information for a list of approved firms.
  • Prepare documents necessary for incorporation. The services of a lawyer experienced in insurance matters may be desirable. These documents are submitted to DISB in advance of the application or in conjunction with the application.
  • Prepare the application and supporting documents, including DISB’s proforma financial template to be filed electronically with the Department.
  • Include a $500 application review fee and a $300 certificate of authority fee with the application.

DC Captive Application Forms and Instructions