Despite the growth of a captive insurance movement, both locally and internationally, one of the challenges parent companies face is domicile selection. The complexity of factors derived from legislation, as well as the business environments of both captive insurers and parent companies, are adding a set of challenges to this risk mitigation strategy. An understanding is needed of the key elements contributing to domicile selection. This study has divided those elements in two parts: the individual factors (30 items), and the categories of factors (6 items). The study analyzed the strength of the relationship between the preference towards onshore or offshore domiciles and factors and categories of factors explored in the research. The findings were then tied to the current literature, offering a perspective that will benefit interested parties in the insurance industry, in general, and the captive insurance program, in particular. Findings suggested that some factors, such as captive friendly legislation or the accessibility to regulators, were key in selecting the domicile of the captive insurers. In addition, onshore domiciles were found to be more attractive to U.S.-owned captive insurance companies. Future studies are needed to test the exact impact of some regulations, such as IRS Notice 2003-34 or the Dodd-Frank Act, or specifics related to the trend towards onshore domiciling found in this research.
|Commitee:||Perry, Robert, Serafimova, Irina|
|Department:||School of Business|
|School Location:||United States -- Washington|
|Source:||DAI-A 82/9(E), Dissertation Abstracts International|
|Subjects:||Accounting, Business administration, Law|
|Keywords:||Captive insurance management, Domicile of captive insurers, Risk management, Statutory Accounting Principles, Risk retention group, Domicile decision|
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