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British Columbia Infrastructure

The population of British Columbia is 2.6 million, of which approximately 1.4 million are located in Vancouver and the Lower Mainland. Vancouver is a substantial commercial centre with an excellent cross section of the financial, technical and professional skills needed to implement, incorporate and manage a captive insurance company. The following expertise, necessary for the successful operation of a captive insurance company, is available in Vancouver.

Accountants

All of Canada's major accounting firms are represented in Vancouver, along with many smaller independent firms. A number of these firms have been involved in preparation of the financial projections required to license a B.C. captive, as well as in the completion of the annual Auditors' Statement to the Superintendent of Financial Institutions.

Actuaries

Actuarial services are readily available.

Banks

All of the major Canadian chartered banks and many foreign banks have significant operations in Vancouver

Consultants

In Vancouver there are a number of independent insurance consulting firms with specialist expertise in captive feasibility studies and formation. In addition, a number of the major insurance brokers, all of whom are represented in British Columbia, have specialty divisions or subsidiaries involved in risk management and captive insurance company consulting.

Investment consultants

Vancouver is home to a number of investment managers and brokerage firms, and as well there are local offices of national investment firms owned or controlled by the major Canadian chartered banks. There is plentiful expertise to take care of the investment and financial planning needs of B.C. captives.

Lawyers

There are approximately 5,000 lawyers practicing in the Vancouver area, a number of whom have specific expertise in captive insurance companies. Certain lawyers and law firms have had a good deal of involvement in the incorporation and licensing of B.C. captive insurers, while others have specialized in claims handling and litigation for captive insurers and self-insured programs.

Managers

Major insurance brokers and a number of independent firms have captive management expertise and experience in their Vancouver offices. These manager's have been involved in managing captive insurers under the Insurance (Captive Company) Act since its inception, and have the expertise and knowledge to ensure first class captive management.

Reinsurers

Vancouver is home to a small but growing reinsurance market with expertise being developed in the specific area of captive reinsurance.