The State of New Jersey
NJ Department of Banking and Insurance
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Office of Captive Insurance

New Jersey’s Captive Insurance Law provides opportunities for businesses to manage the costs of insuring their operations by forming a captive insurance company to assume some of their own risk.  A captive insurance company can be an effective alternative to seeking insurance in the commercial market.

Why Form a Captive Insurance Company?

A captive insurance company can provide significant benefits to business owners who understand their operational risk and have a history of sound management practices. By forming a captive insurance company, the owner gains greater control of the organization’s risk financing structure and can align management capabilities to identify insurable risks and define potential liabilities and loss concerns.  Potential benefits include coverage tailored to fit business operation needs, control of risk management and claims activities, and direct access to reinsurance and excess insurance markets for more efficient use of capital.

New Jersey is open to the formation of new captives as well as the redomestication of existing captives.  The admissions process is comprehensive, consultative and efficient.

 

New Jersey Advantages
  Check mark Accessibility
  Check mark Comparable tax rate
  Check mark Convenience
  Check mark Serving the NJ Corporate Community

 

For more information, contact:
William P. White
Assistant Commissioner, Office of Captive Insurance
New Jersey Department of Banking and Insurance
Telephone: 609-292-7272, ext. 50028 E-mail: william.white@dobi.nj.gov

 

 

 
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New Jersey Department of Banking and Insurance