"Captive insurance is a natural fit for the three major industries in Oklahoma—farming, oil, and natural gas, all of which have risk management issues that are unique to their industry,..." notes ACM Founder Fred Turner
Irvine, California (PRWEB) September 25, 2014
Active Captive Management (ACM) reports that it has been approved as a captive insurance manager in the state of Oklahoma. Additionally, the firm has added North Carolina to its 2014 roster and the states of Hawaii, Nevada and Oregon in 2013.
Now one of just nine approved captive managers in Oklahoma, ACM looks forward to assisting the state in building new business opportunities as a result of recent adjustments to its captive law.
Some of the recent legislative changes to the domicle’s captive regulations include the opportunity to obtain a Provisional License and the ability to cover Worker’s Compensation risk, among other benefits. In addition, Oklahoma now provides low cost premium tax rates capped at $100,000—an attractive benefit that has substantially increased the number of companies carrying out business here.
“Captive insurance is a natural fit for the three major industries in Oklahoma—farming, oil, and natural gas, all of which have risk management issues that are unique to their industry. ACM is very pleased to be among a handful of firms selected to support Oklahoma’s business base with the economic development tools of custom insurance coverage and asset protection offered through captives,” notes ACM Founder Fred Turner.
For more information on the advantages of forming a captive in Oklahoma, visit http://www.ok.gov/oid/oklahomacaptive.html.
About Active Captive Management
Active Captive Management (ACM) was established in 2005 and handles the needs of a wide range of companies in the design, development and implementation of alternative risk transfer solutions. ACM offers comprehensive management services encompassing insurance policy underwriting and administration, claims processing, company accounting and captive regulatory compliance management. ACM is an approved captive manager in 17 domestic and three offshore domiciles.
Links for More Information about Active Captive Management:
Better Business Bureau