Since the Hawaii captive law was enacted in 1987, there has been a steady increase in the number of new companies incorporated in Hawaii for the sole purpose of securing a captive insurance license from the Insurance Commissioner. Organizers include some of Hawaii’s largest employers, as well as, U.S. and foreign based regional and multinational companies from a diverse range of industries.
Hawaii laws allow for the writing of all lines of casualty insurance, liability, marine and transportation, marine protection and indemnity, wet marine and transportation, property, surety, title, credit life and credit disability, or other lines that may be allowed by the Insurance Commissioner. Coverages can be provided by the captive on a direct or reinsured basis, or combination thereof.
PDF: 2012 Captive Recap
|Best’s Review interviews the leading captive domiciles to help simplify the complexities of setting up specialized insurance organizations.
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|Regulators in the Aloha State are touting Hawaii’s ultimate destination package: insurance haven.
Read full story from Best’s Review (PDF)Major Japanese Credit Card Company Establishes Hawai’i Captive Insurance Company
JCB Co., Ltd. (“JCB”), a major global payment brand and leading credit card issuer and acquirer in Japan recently selected Hawai’i as the home for its new captive insurance subsidiary, PermCore Insurance Co., Ltd. (“PermCore”). Read the full Press Release (PDF)