Benefits of creating a captive in Hawaii

Specialized Insurance Regulatory Expertise

Hawaii is one of the few captive jurisdictions with:

  • Exclusive full-time staff who specialize in captive insurance regulation and development. These individuals maintain professional designations including certified public accountant and certified financial examiner.
  • Consistent annual funding of its Captive Insurance Branch ensures timely and reliable resources for the ongoing regulation and development of Hawaii’s captive insurance industry.
  • Constructive working relationship with insurance regulators and supervisors in other jurisdictions.

 

Consultative approach to development and regulation of captive programs

  • Partnership approach with current and prospective owners and services providers to achieve risk management objectives.
  • Prudent application of appropriate insurance regulatory core principles and standards, including program design recommendations as may be necessary.
  • Responsiveness to changing environment of business owners and risk financing marketplace.

 

Depth and Experience of Captive Service Providers

Wide range of professional service providers including:

  • Captive Insurance Managers
  • Investment and Treasury Managers
  • Insurance Consultants
  • Legal Counsel
  • Insurance and Reinsurance Brokers and Intermediaries
  • Banking and Trust Services
  • Actuarial Services
  • Claims Administrators

 

Strong and active trade association:

  • Promotion and education of captive insurance
  • Development and support of legislation and administrative rules
  • Involvement with local, national and international issues

 

Stable, Consistent, Committed Political Environment

  • Consistent bipartisan Legislative support for effective captive insurance legislation
  • Ongoing Governor and Administration commitment to provide promotional and operational resources for captive insurance industry

Strategic Location

  • Ease of access from North America and from Asia.
  • Non-stop flights from 23 major U.S. and 27 international destinations.
  • Favorable time zone differences facilitate communication with U.S. mainland and Asia extending the working day.
    • Ability to transact business with eastern U.S. and Japan in the same business day in Hawaii
    • 5 to 6 hours behind eastern U.S. mainland
    • 2 to 3 hours behind western U.S. mainland
    • 19 hours behind Japan
  • World class business meeting and hospitality facilities