Editor's note: Steven A. Meyerowitz, Esq., is a director of FC&S Legal. FC&S and PC360 are both owned by Summit Professional Networks
Delaware has become the sixth largest captive-insurance domicile. Delaware Insurance Commissioner Karen Weldin Stewart said in a statement that the state grew its number of captive insurers in 2013. In particular, at year-end 2013, there were 298 licensed captives with 266 being active. As of year-end 2012, Delaware had licensed 212 captive insurers with 192 being active.
Commissioner Stewart noted, "Delaware service providers, such as attorneys and accountants, are providing services to the captive industry at a greater rate than at any other time in the department's history. This shows that the captive bureau is meeting, and even exceeding, its statutory mission of expanding economic development."
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