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When it comes to captives, does speed really matter? If there’s any doubt, just ask a prospective captive owner who has been hobbled by red tape for months. Legal expenses and other incurred costs can quickly erode the upsides of alternative risk management.

Fortunately, delays don’t have to be par for the course. Statutory approval times vary greatly between domiciles. In many cases, delays are the result of broker and captive-owner error and oversight rather than overzealous bureaucracy or high application volume. In fact, before the application is submitted, the captive owner and insurance broker can work to positively influence the cost clock.

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