Are there any other fees specifically applicable to captive applications?

Are there any other fees specifically applicable to captive applications?

There may be other fees required in some circumstances, most often in one of two categories:

  • Protected cells: Additional application fees will apply with applications for protected cells connected to a protected cell captive insurer license. The examiners revolving fund and charter document fees do not apply for each protected cell. The $1,000 fee applies to each new cell to be formed whether at original license application or at a later date. [Fees to ACC will likely apply if the cell is a distinct legal entity, e.g. a corporation or LLC.]
  • Additional review fees for specialists, etc.: The Department may need to engage contractors to assist with an application review, particularly if it requires the expertise of a specialist, usually an actuary. These costs will be borne by the applicant. Every effort will be made to communicate the estimated cost of such services before they are incurred. Such fees are most commonly, but not always, associated with applications for new risk retention groups and will be billed separately.

Are there any other fees specifically applicable to captive applications?