January 2006 Pulse Survey Results

Impact of the GAO Report on Captives

 

Three Survey Questions
1. What type of accounting method does your captive use?
 Response PercentResponse Total
  SAP (Statutory Accounting Principles)
8.6%3
  GAAP (Generally Accepted Accounting Principles)
71.4%25
  Both
20%7
Total Respondents  35
(skipped this question)  0
2. If a required change in accounting systems meant that you could not rely on letters of credit as acceptable formation capital, would that be a concern?
 Response PercentResponse Total
  Yes
54.3%19
  No
34.3%12
  Not sure
11.4%4
Total Respondents  35
(skipped this question)  0
3. If your captive domicile was no longer accredited by the NAIC, would that be a concern?
 Response PercentResponse Total
  Yes
60%21
  No
40%14
Total Respondents  35
(skipped this question)  0