What does Domicile Manager mean? Read on to discover the definition & meaning of the term Domicile Manager - to help you better understand the language used in insurance policies.
In a captive insurance company, the person whose role it is to keep the books, pay bills, record and maintain excess and reinsurance contracts, and interface with regulators. The exigency of today's financial and regulatory worlds compels the manager to perform more services, at a higher level of professionalism, than was expected 10 years ago. In most domiciles, the regulators require, or at least strongly encourage if the legislation does not mandate, that captive owners retain a professional management firm to keep the records and actually manage the captive.
We hope the you have a better understanding of the meaning of Domicile Manager.