Alabama Department of Insurance

In its 2006 regular session, the Alabama Legislature passed a bill allowing for captive insurance companies. Gov. Bob Riley signed the bill into law.

The legislation was the recommendation of the Hurricane Insurance Issues Task Force, which put its stamp of approval on the bill in order to provide underserved commercial markets a new option for insurance.

Here are the forms required to submit a complete application for admission as a captive insurer in Alabama.

• Steps to Forming a Captive
• Statement of Benefit to Alabama – Estimated
• Captive Application Fee Schedule
• Application Checklist
• Captive Insurer Application Form
• Biographical Affidavit
• Resident Agent For Service
• Agreement to Submit to an Examination
• Captive Manager Application
• Captive Actuary Application
• Captive CPA Application
• Statement of Benefit to Alabama
• NAIC Company Code Application
• Letter of Credit
• Annual Financial Statement
• Captive Service Providers