UCIA Membership

Membership in the Utah Captive Insurance Association serves the important function of allowing dedicated professionals a collective voice with state and federal regulators, legislators, the NAIC, and industry as a whole.

As a member of the UCIA,, individual captive owners and industry service providers have an opportunity to interact with each other and to meet with regulators for the purpose of networking, education, training, and service.

Through membership in the UCIA, the State of Utah captive regulators are be able to increase representation at insurance industry conventions every year to tell the State of Utah’s Captive Industry story. The state has become a domicile of choice for the smaller captives seeking to form insurance companies under U.S. Internal Revenue Code section 831(b). It has also become attractive for larger captive formation, and for those captives that are desiring to re-domicile to a place where the business climate is friendlier, is easier to get to, and provides an out-of-the-ordinary travel experience.

UCIA members reach out to each other to provide a cohesive group to progress the captive industry with bold thinking and new ideas in saving costs.

Please contact any member of the UCIA with questions about joining our group or about the special advantages available.

 
 
 
 

Membership Eligibility

Becoming a member of the Utah Captive Insurance Association is open to all Captive/RRG Insurance Companies and other business entities with an interest in supporting and promoting the captive insurance industry in Utah. Any business involved in the operation, development or servicing of a captive insurance company in Utah should become a member of the Utah Captive Insurance Association.

Persons or Businesses should join that are:

• Investment / Financial Management Advisors
• Program Administrators
• Brokers and Producers
• Program Managers (MGAs / MGUs)
• Attorney Firms
• Accounting / Audit / CPA Firms
• Reinsurers
• Re-Insurance Intermediaries
• Business Consultants
• Risk Managers for Self Insureds

• Captive Insurance Companies
• Captive Managers
• Risk Retention Groups
• Risk Purchasing Groups
• Branch Captive Offices
• Redomesticated Captive Companies
• Group Captives - Homogeneous or Heterogeneous
• Actuaries
• Claims / Third Party Administrators
• Banking Institutions

 
 
 
 

Membership Availability

There are three classes of members allowed for under the UCIA ByLaws:

  1. FULL MEMBER (VOTING):

    The following entities shall be eligible to be Full Members of the Association:
    • A captive insurer holding a certificate of authority as a captive insurer under the Utah Captive Insurance Companies Act; and
    • A person or firm of a type that provides products and/or service to captive companies, which meets the criteria established by the Board of Directors

    Each Full Member shall be entitled to one vote and shall appoint a representative who shall cast the Member’s vote in the affairs of the Association. A subsidiary or otherwise related entity that is a separate legal entity may have its own membership of the appropriate type.

  2. AFFILIATE MEMBERS (NON-VOTING):

    The Board of Directors may bestow affiliate membership on persons or firms under such terms as the Board of Directors may establish. Persons or entities eligible to be Full Members or Honorary Members shall not be Affiliate Members. The following entities shall be eligible to be Affiliate Members of the Association.

    • Students;
    • Sponsored captive cell participants;
    • Foreign or alien captive insurers without a Utah branch;
    • Additional members:
      • Captive affiliates (related legal entities in addition to the Full Member);
      • Other interested individuals and organizations that do not qualify under the definition of an Affiliate or Full Member.

    Affiliate Members shall have no voting power in any matter to be considered by the members of the Association. Affiliate Members shall be eligible to serve on the Board of Directors and as officers, and shall be eligible for appointment as members of Board committees of the Association. Affiliate Members who serve on the Board of Directors, Board committees or as officers shall have the same rights and obligations as do other members of the Board of Directors or Board committees.

  3. HONORARY MEMBERS (NON-VOTING):

    The Board of Directors may bestow honorary membership on persons or firms under such terms as the Board of Directors may establish. Persons or firms that have made demonstrated contributions to the purposes and goals of the Association shall be eligible to be Honorary Members of the Association.

    Honorary Members shall have no voting power on any matter to be considered by the Full Members of the Association.

    Honorary Members shall be eligible for appointment as non-voting members of Board committees, and shall not be eligible to serve on the Board of Directors or as officers.
 
 
 
 

Membership Dues:

Unlike many state captive associations, membership in the UCIA is intended to be economically available to anyone that would like to become involved. Therefore, dues are only used for basic costs, such as website costs, phone service, printing, advertising, etc. Any meetings, UCIA promotions, marketing, or charitable educations (or other) donations, will be supported by separate membership contributions, paid by those that want to participate in the promotion, meeting, or marketing program.

Additionally:

$150 per annum for captive owners;
$250 per annum for service providers.

 
 
 
 

Membership Benefits

1

Information updates on Legislative and Utah Insurance Department matters affecting Captives/RRG’s.

2

Communications regarding the Utah captive industry relating to: Property & Casualty changes and/or new trends, including coverage lines such as Workers' Compensation, General / Excess Liability, Auto, Inland Marine, Property, Executive Risks, etc. and also including developing areas such as , Employee Benefits, Aggregate Stop-Loss Insurance, Reinsurance, etc.,

3

Participation in any UCIA promotions and events, including a free website listing as a member, available website advertising, and other promotions for Utah as a Captive state.

4

Notice of all Utah State Captive activities; and,

5

Direct contact and recognition with the Utah Insurance Departments Captive Division Director. The UCIA would like to become the VOICE, and the business development supporter, of the Captive Law in Utah.