Delaware Captive Insurance Audit Services

Delaware enjoys a well-earned reputation for being one of the world’s most advantageous places for companies to do business. Captive Insurance Companies choosing Delaware as their jurisdiction over other domiciles will benefit in a significant manner. A Captive Insurance Company is an in-house self-insurance vehicle established with the purpose of financing risks emanating from their parent group.

Some of the advantages of forming your Captive in Delaware are:

• Ability to prepare annual reports using either:
  
  • Generally Accepted Accounting Principles (GAAP)
  • Statutory Accounting Principles or
  • International Accounting Standards.
• Flexibility of entity type
• Competitive tax rate structure
• Minimal bricks and mortor requirements.

Captive Insurance Companies that establish Delaware as their domicile are required to have an annual independent audit. Cover & Rossiter is the first Delaware-based independent auditor currently authorized by the State Insurance Department to perform such audits.

Our approach is to focus our audit on organization risk areas and to work collaboratively with the Board of Directors and the captive manager to accomplish our goals. Additionally, because we are integrally involved with the Delaware Captive Insurance Association, we feel that we are better equipped to provide our clients with the most up to date information relating to Delaware’s Captive Insurance Regulations.

Cover & Rossiter is a member of the Delaware Captive Insurance Association and have been involved in the Association since it was formed in 2005. We are committed to making Delaware a prominent domicile within the Captive Insurance Industry.

For further information, please contact Joanne Shaver at 302-656-6632 or send her an email.

• Visit the Delaware Captive Insurance Association website.
• Visit the State of Delaware Department of Insurance website.