What does Domicile mean? Read on to discover the definition & meaning of the term Domicile - to help you better understand the language used in insurance policies.
The location or venue in which a captive insurer is licensed to do business. There are a number of factors that must be considered in selecting the best domicile for a given captive, including capitalization and surplus requirements, investment restrictions, income and local taxes, formation costs, acceptance by fronting insurers and reinsurers, availability of banking and other services, and proximity considerations.
We hope the you have a better understanding of the meaning of Domicile.