The recent growth spurt among captives opting to domiciledomestically can be attributed to lower establishment costs, morestreamlined capitalization requirements and state governmentsoffering increasingly creative incentives.
Another factor: more location options. The Captive InsuranceCompanies Association (CICA) reports that Florida and New Jerseywill be the newest states open for business, effective thisJuly.
The Vermont insurance market—oneof the oldest in the U.S.—is still the No. 1 domicile in thecountry with 30-40 percent of Fortune 500 companies owninga captive in the Green Mountain State. But other states are takingsteps to make themselves more attractive and to catch up.
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