Captive CE

Forming and Operating a Captive Insurer

Course Details

This course is not subject to discount pricing.

Additional Credit Available:

Add Insurance CE

Delivery Method: 

QAS Self-Study

PDF Download: 


Provider of Record: 


Field of Study: 

Specialized Knowledge

Last Reviewed: 

April 2021

Study Level: 


Access Period:

12 months

Exam Requirements

Proctor Required: 


Passing Grade: 






Please note: Adding Additional Credit may change exam requirements.


Captive insurers continue to be formed even during soft market conditions, because when properly used, the captive is an effective risk management tool. This course examines three aspects of captives with emphasis on the legal environment in which captives must operate: the formation of a captive, captive operations, and the issue of unrelated business. It discusses  the risk management purposes of using a captive, the differences between various types of captives, the factors affecting the choice of domicile for a captive, the filing procedures involved in forming a captive, and the responsibilities of a captive's board members. 

Learning Objectives

Upon completion, students will be able to:

  • recognize the risk management purpose of using a captive to finance an entity’s risks, identify the elements of captive insurance, recognize why a captive can insure many types of risks, and distinguish among various types of captive insurance companies
  • identify factors to be considered in evaluating the cost of risk and recognize the various ways in which the costs of financing risks through a captive can be lower than the costs of commercial insurance or self-insurance plans
  • recognize the ways in which a captive’s underwriting documentation and other reports and filings can support the captive’s purpose and make it clear that the captive’s policies legally qualify as insurance
  • distinguish between related and unrelated business written by a captive

Designed For

Property and casualty risk, safety, insurance, finance, and accounting professionals.   


A basic understanding of how the insurance industry is structured.

International Risk Management Institute, Inc. (IRMI) is the premier provider of risk and insurance continuing education and reference publications, and is considered the ultimate authority by leading insurance practitioners. Written by industry experts, IRMI courses provide the most up-to-date, practical and reliable information possible.

Advanced Preparation


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