North Carolina Captive Law in Effect

North Carolina is open for business as a domicile for captive insurance companies. The North Carolina Captive Insurance Act, signed into law in June, is now in effect, allowing for the formation of captive insurance companies in the state. More than 30 other states have captive laws.

“Entering the captive insurance market will provide economic opportunities for North Carolina and help accommodate the needs of businesses in our state,” said Insurance Commissioner Wayne Goodwin. “We have a state-of-the-art captive law, and the Department of Insurance is committed to making North Carolina an attractive new home for captives.”