Small Business Reading Room

Tuesday, January 26, 2010

Delaware Licenses World's First Serial Captive Insurance Company

Yet another 1st for the First State.

Delaware Insurance Commissioner Karen Weldin Stewart has been busy lately. Last week, we reported on the growth of the Captive Insurance Industry in Delaware, this week it's about an industry break-through.

Delaware is only one of seven states whose business laws allow the formation of serial limited liability companies or statutory trusts. However, unlike other states, Delaware has a long and well-respected history of business law and permits the serialization of the captive entity to serve as a customized risk management solution. Delaware’s laws allow each series to hold different liabilities and assets that permits “ring fencing” of the series.
“A series captive entity provides greater flexibility and advantage than other traditional structures, including protected cell structures,” stated Commissioner Stewart.

You can read the full press release here.



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