In addition to the information required by § 58-46-4, each applicant captive insurance company shall file with the director evidence of the following:
- (1) The amount and liquidity of its assets relative to the risks to be assumed;
- (2) The adequacy of the expertise, experience, and character of the management;
- (3) The overall soundness of its plan of operation;
- (4) The adequacy of the loss prevention programs of its parent and affiliated entities; and
- (5) Such other factors deemed relevant by the director in ascertaining whether the proposed captive insurance company will be able to meet its policy obligations.
Source: SL 1996, ch 287 , § 5; SL 2013, ch 257 , § 4.