• Captives & Risk Retention Groups: Domestic
• Complete the application and business plan (PDF) in full and submit via email. These should be organized and separated by section. If a particular section or subsection is not required, applicable or executed, include a written explain.
• All checks should be made payable to the South Carolina Department of Insurance.  The application fee is nonrefundable.  Our fees include:
  • $200 Application Fee
  • $300 Initial License Fee
  • $4,000 Review Fee
• Fill out our Application to Certify Aggregate Reserves (PDF).
• Fill out our Application to Act as Independent CPA (PDF). This application is for captives other than SPFC captives.
• Cover letters should provide complete overview of the parent company, background information on the parent and captive companies, coverages to be provided by the captive, service providers, capital, surplus, etc.  Please also indicate the proposed date the captive needs to be licensed. 
• Fill out our Captive Biographical Affidavit On-Line OR utilize our PDF version, Captives Biographical Affidavit (PDF).
• View our Letter of Credit Instructions (PDF).  If you need examples, you can look over our sample letter (PDF).
• Fill out our Consent to Service of Process (PDF) form.
• Fill out our Captive Form A Filing for Mergers (PDF).
• Fill out our NAIC Company Code Application (PDF).

Special Purpose Financial Captives

• The application will be provided by the department once the Certificate of General Good has been issues to the company.
• Our fees are:

• $12,000 Application Fee - Half of the application fee is due when the application is submitted and the remainder will be due once the company is licensed.
• $200 Processing Fee - The processing fee is non-refundable.
• $300 Licensing Fee - The licensing fee is $300 for the year of licensure and $500 annually thereafter.
• $2,400 Annual Review Fee, or actual cost if higher.
• Miscellaneous fees assessed during the review process (i.e. external reviews)
• All checks should be made payable to the South Carolina Department of Insurance.
• The Application to Certify Aggregate Reserves (PDF) is required only if the actuary is not on the approved South Carolina list of approved actuaries.
• The Application to Act as an Independent CPA (PDF) is required only if the actuary is not on the approved South Carolina list of approved Certified Public Accountants.
• Fill out our NAIC Biographical Affidavit (PDF).
• Fill out our Consent to Service of Process (PDF).
• Fill out our Captive Form A Filing for Mergers (PDF).