Message from the President

Utah is “THE PLACE” for Captive Insurance!

We all know that Utah is world-renowned as a premier outdoor recreation mecca. Did you also know that Utah and her cities are also recognized as a global leader in business, government and industry? Over the past few years the “Beehive State” has received number one rankings by various nation-wide organizations in categories such as “Best Performing Cities,” “Best State Economy,” “Best State to start a Business,” and “Best State for GDP Growth.”

But what really sets Utah apart are her citizens. Utahns are recognized the world over as being friendly, industrious, creative, supportive, and willing to go the extra mile to help and serve others. It’s no wonder that 500 business-owners from states all across the country have chosen to domicile or re-domicile their captive insurance companies in the Great State of Utah! 

Captive Insurance Companies have become an indelible part of the Utah business landscape, with seasoned, savvy, creative regulators, creating a regulatory environment possessing:

▶ an optimistic "can-do" attitude,

▶ leading-edge regulatory guidelines,

▶ professionals willing to listen to new and exciting opportunities,

▶ multiple captive insurance company structures and options,

▶ all while offering one of the lowest cost structures in the industry.

Spend a few minutes here to learn more about why Utah makes perfect sense for your Captive!

- Ken Avery, UCIA President

Welcome from the Utah Department of Insurance

Utah is widely renowned for its environment: With five national parks and some of the best hiking, camping, and skiing around, we have the country's best outdoor playground. But we're also a great environment for business. Utahns are known for their strong work ethic and our state government believes in helping companies grow. We're regularly listed among the top states for business and industry. 

We know that many states and territories could be the domicile for your captive — thanks for considering Utah. We're confident that our best-in-class regulatory environment, low cost of doing business and educated workforce will be assets to your organization. Utah is a business-friendly state and is ready to help your captive achieve your desired risk management goals.

Take a few minutes to explore what Utah's captive industry has to offer and you'll see why our state has quickly grown to be the second largest domicile in the nation and is the perfect place for your captive!

- Travis Wegkamp, Utah Insurance Department, Director of Captive Insurance