In nondomiciliary states, traditional insurers and non-RRG captives are subject to:

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Multiple Choice

In nondomiciliary states, traditional insurers and non-RRG captives are subject to:

In this area, regulation is primarily at the state level. To transact insurance in any given state, a company must obtain a license from that state’s insurance department and operate under its oversight. That means traditional insurers and non-RRG captives must be licensed in each nondomiciliary state where they write business, and they must meet that state’s capital, solvency, filings, rate and form requirements, and undergo regulatory review. The domicile state provides its own supervision, but it does not grant automatic authority in other states. Federal regulators don’t handle licensing for all nondomiciliary states, and automatic licensing by the domicile state isn’t available. Licensing is not optional, and even captives that are domiciled elsewhere must be licensed in each state they operate in.

In this area, regulation is primarily at the state level. To transact insurance in any given state, a company must obtain a license from that state’s insurance department and operate under its oversight. That means traditional insurers and non-RRG captives must be licensed in each nondomiciliary state where they write business, and they must meet that state’s capital, solvency, filings, rate and form requirements, and undergo regulatory review. The domicile state provides its own supervision, but it does not grant automatic authority in other states.

Federal regulators don’t handle licensing for all nondomiciliary states, and automatic licensing by the domicile state isn’t available. Licensing is not optional, and even captives that are domiciled elsewhere must be licensed in each state they operate in.

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