disb

Department of Insurance, Securities and Banking
 

DC Agency Top Menu

The Department is currently conducting business via telework and will not be able to address consumer issues in person. Read more >> 
Phase Two of Reopening Began on June 22

-A +A
Bookmark and Share

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