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ANCE BUSINESS To the Commissioner of the Oklahoma Insurance Department, I hereby apply for authorization as an independent certified public accountant for the transacting of audits for Captive Insurance Companies. INDIVIDUALS ONLY MAY APPLY 1. Full Legal Name: 2. Residence Address: 3. (a) Date of Birth: (b) Social Security Number: 4. Education and Degre.

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Captive lessors are also more sales- and customer-driven, while Non-Captives are more credit-driven. And because Captives are more willing to repossess equipment in case of default, they place more weight on equipment values than on lessee credit characteristics.

Premiums are the main source of income for a captive. At the onset, it may be more desirable to take a conservative view in premium funding to build sufficient capital such that the captive is able to pay claims and withstand unforeseen events.

Captive insurance can have legitimate tax benefits for business owners. Premiums paid to a captive insurer can be tax-deductible if the arrangement meets certain risk-distribution standards. Thus, the business gets a current year write-off even though losses may never occur.

Accounting for captive insurance involves determining appropriate reserve levels to cover potential future claims. The accounting treatment of these reserves requires a nuanced approach, considering factors such as actuarial assessments and changes in the risk profile of the captive.

A captive insurance company is a wholly-owned subsidiary insurer formed to provide risk mitigation services for its parent company or related entities. Companies form “captives” for various reasons, such as when: The parent company cannot find a suitable outside firm to insure it against particular business risks.

Captive Account means the account maintained by the Company with The Bank of N. T. xx & Son Limited in Bermuda, which account is identified as Segregated Account PP72022, a segregated account pursuant to the Universal Re-Insurance Company 0000, a Private Act of the Bermuda Legislature.

Issue: In its simplest form, a captive is a wholly owned subsidiary created to provide insurance to its non-insurance parent company (or companies). Captives are essentially a form of self-insurance whereby the insurer is owned wholly by the insured.

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232