The Captive Regulatory Team of the NC Department of Insurance (NCDOI) continues to operate remotely during the COVID-19 outbreak. Even in this unusual situation, regulatory responsibilities such as the ongoing regulation of licensed captive insurers and review of captive insurer license applications and business plans are continuing to be handled efficiently and timely. The NCDOI is available and accessible to the captive industry and current and potential captive owners through emails, conference calls, and virtual meetings to discuss new captive formations and developments with existing captive insurers. The easiest way to initially reach one of their team members is through email although they are routinely checking their office telephone voicemails as well. Email addresses are available on the NCDOI’s website at the following link: https://www.ncdoi.gov/insurance-industry/captive-insurance/captive-regulatory-team.
The NCDOI continues to assess COVID-19 developments to determine if additional waivers or extensions of requirements are necessary. However, please feel free to contact the NCDOI captive team, if there are special needs related to licensed North Carolina captive insurers with which the NCDOI may assist.