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Delaware's Captive Insurance Program Dedicated to Excellence

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August 18, 2017

Insurance Commissioner Trinidad Navarro recently announced that the International Center for Captive Insurance Education (ICCIE) has designated the Delaware Insurance Department Bureau of Captive and Financial Insurance Products as an ICCIE Trained Organization. Delaware is one of only two states that have applied for and received this recognition. The captive bureau had to meet the following requirements to qualify as an ICCIE Trained Organization.

  • At least 20 percent of the captive professionals in the captive bureau must hold the Associate in Captive Insurance (ACI) in good standing

  • At least 30 percent of the captive bureau's professionals must be ACIs, Certificate in Captive Insurance (CCI) holders, or currently enrolled in the ACI or CCI program

For insurance regulators, ICCIE maintains strict standards for who qualifies as a "captive professional." The definition of a "captive professional" is someone who spends at least 20 percent of their time on captive insurance work and is either a licensed professional such as an attorney, accountant, actuary, insurance producer/agent, investment adviser/broker dealer, underwriter, or an equivalent to such a position. It does not apply to those whose work is purely administrative.

"This recognition by the ICCIE reflects the education, experience, and professionalism of Delaware’s captive insurance staff. One of my objectives is to build upon a staff of highly competent regulators who know and understand how to regulate insurance for the benefit of my fellow Delawareans. I am proud of the hard work and dedication of the individuals in the captive bureau and heartily commend them," said Mr. Navarro.

Delaware is the world's fifth largest domicile and the third largest US domicile.

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