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
- 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