New Jersey

SRS Contact:

Patrick Theriault
Managing Director
Tel: 802 861 2630

Team Members:

Patrick Theriault

Melissa Hancock

Webinars:

2015 The State of the Captive Insurance Market

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Overview

New Jersey established its captive legislation in 2011 and is one of the newest onshore US captive domicile. At the end of 2014, New Jersey had 17 active captives.

Minimum Capital and Surplus

Single parent captive $250,000
Group/Industrial insured captive $500,000
Association captive $750,000
Sponsored captive $500,000

Specialty

New Jersey’s captive industry is focused on serving the needs of local New Jersey businesses and those in the surrounding area. The captive law requires that the captive have a physical presence in the state either via the captive manager or its owners.

SRS Presence

SRS was approved as a captive manager in New Jersey in 2012. Our first New Jersey domiciled captive client was licensed January 1, 2013. The management of captives in New Jersey is part of our Mid-South business unit overseen by Patrick Theriault.