The Georgia Captive Insurance Application is the package a business files with the Georgia Office of Commissioner of Insurance to create its own insurance company and get a Certificate of Authority to insure its own risks. Any company that wants to form a “captive” in Georgia, whether a single parent, a group, or an agency, must complete this application under O.C.G.A. 33-41-10 and file it through the state’s online GIMS Portal.
This is not a one-page form. It is a full application package built around a business plan, proposed articles of incorporation, biographical affidavits, and proof of capital. Georgia is one of the fastest-growing U.S. captive domiciles, and the Division reviews your proposed Articles of Incorporation within 45 days and your application for a Certificate of Authority within 90 days. One missing or weak piece can stall the whole file, since the state will not even start its review until the package is complete.
Here is what you will learn in this guide:
- 📋 What each part of the Georgia captive application asks and how to answer it the right way.
- 💰 The exact fees, capital minimums, and deposits you must prove before you can be licensed.
- 🏢 How the O.C.G.A. 33-41-8 surplus rules change based on the captive type you pick.
- ⚠️ The field-level mistakes that get applications delayed or sent back, and how to dodge them.
- ✅ Three full filing walkthroughs, a pre-filing checklist, and answers to the most common questions filers ask.
What the Georgia Captive Insurance Application Is and Who Must File It
The Georgia Captive Insurance Application is the formal request a sponsor makes to the Captive Insurance Division to incorporate a captive and receive a Certificate of Authority to transact insurance in the state. A captive is an insurance company a parent business creates to insure its own risks instead of buying coverage from a commercial carrier. The application is required by O.C.G.A. 33-41-10, and the rules that govern it sit in Georgia Regulation 120-2-45. The agency that receives and reviews it is the Captive Insurance Division of the Georgia Office of Commissioner of Insurance.
You must file this application if you want to form any Georgia captive. The state recognizes several types under O.C.G.A. 33-41-2, and the type you choose drives your surplus and your forms. The main types are a pure captive (insures only its parent and affiliates), an association captive (owned by a trade group), an agency captive (formed by an insurance agency), an industrial insured captive, a risk retention group, and a sponsored captive (which uses protected cells).
The statute requires the application to prove you can pay claims. That is why the heart of the package is a business plan with a feasibility study, loss history, pro forma financials, and, when the Commissioner asks, an actuarial opinion. The Commissioner may also hire independent agents such as actuaries and accountants to review your file, and you pay those costs directly. Think of the captive owner as the filer and the captive manager as the guide who usually prepares and submits the package.
Common filer example: Brookhaven Manufacturing LLC wants to insure its own product-liability and equipment risks. It files a pure captive application so it can fund its own losses and keep underwriting profit in the family instead of paying a commercial insurer.
Before You Start: Documents and Information You Need
Georgia will not review your file until it is complete, so gather every piece before you open the GIMS Portal. The package mix varies by applicant, but most pure and group captives need the same core items. Pull these together first to avoid a stalled review.
- Proposed Articles of Incorporation (Corporate Charter). This is your legal birth certificate; without it the Division has nothing to incorporate, and the file stops cold.
- Bylaws or operating agreement. These show how the captive is governed; a missing copy signals an incomplete governance structure and draws questions.
- Business plan and feasibility study. This is the spine of the application under O.C.G.A. 33-41-10; a thin plan is the top reason files get sent back.
- Historical and expected loss data. The state needs your loss runs to test whether premiums and surplus are adequate; without them, the actuary cannot opine.
- Pro forma financial statements and projections. These prove solvency over time; missing projections make it impossible to judge if the captive survives a bad year.
- Biographical affidavits (GID-052-NT or GID-415 series). These vet the people running the captive; an unsigned or unnotarized affidavit voids that person’s review.
- Proof of minimum capital or surplus under O.C.G.A. 33-41-8. This shows the money is real and deposited; no proof means no Certificate of Authority.
- Filing fees. A $100.00 charter filing fee and a $600 license fee are due, per Reg 120-2-45-.12; a short payment leaves the package incomplete.
- Captive manager and service-provider details. The state wants to know who handles management, underwriting, claims, and accounting; gaps here raise expertise concerns.
- Investment policy statement. This must comply with O.C.G.A. 33-41-18; a non-compliant policy can be flagged before licensing.
Where to Get the Form and How to Access It
You start at the Georgia Office of Commissioner of Insurance Captive page, then file through the state’s online system. The Division strongly prefers you email its staff first to discuss the proposed captive before you submit anything. This early call often saves weeks because the Division can flag issues with your structure or coverage lines up front.
The official starting point is the “Form a New Captive in the State of Georgia” page, which links the Application Checklist for Newly Forming Captive Insurance Company. That checklist must be cross-referenced and included with your package, so treat it as your master index. Individual forms such as the biographical affidavit live on the same agency site, including the GID-052-NT affidavit.
Filing now runs through the GIMS Portal, the Division’s online filing and payment system. Older Georgia guidance described mailing a hard copy to the Division’s Atlanta P.O. Box or Hapeville courier lockbox, and some renewal or supplemental items may still travel that way, so confirm the current channel on the agency page before you send anything. Because the rules and checklist can change, check the form’s revision date on the checklist itself and use the version the Division currently hosts so you do not file an outdated package.
Step-by-Step: How to Fill Out the Georgia Captive Insurance Application Line by Line
The application is a package of linked parts, not a single sheet. Below, each major part gets its own walkthrough in the order it appears on the Application Checklist and in O.C.G.A. 33-41-10. Use the exact part names from the checklist so the Division can match each item.
Part 1: Application Checklist Cover Sheet
What it asks in plain English. The checklist asks you to confirm, item by item, that every required document is in your package and to note where each one sits.
How to answer it. Work top to bottom, check each box, and write the tab or page number where the Division can find that item. Cross-reference every line so nothing is left blank.
Example entry. Brookhaven Manufacturing LLC checks “Proposed Articles of Incorporation,” then writes Tab A in the location column.
Nuance or edge case. Your checklist may not need every line, since required items vary by captive type; mark items that do not apply as N/A rather than leaving them empty.
Common mistake and consequence. Filers leave lines blank instead of marking N/A, and the Division reads a blank as a missing document, which keeps the package from being deemed complete.
Misconception. Some filers think the checklist is optional paperwork; in truth the Division requires it inside the package as the index that drives the whole review.
Part 2: Proposed Articles of Incorporation (Corporate Charter)
What it asks in plain English. This part asks for the legal document that creates your captive as a company, with its name, purpose, and incorporators.
How to answer it. Draft the Articles to meet O.C.G.A. 33-14-4, have the incorporators sign them, and submit two copies with the $100.00 filing fee. State the captive type and the lines of insurance plainly.
Example entry. Brookhaven Manufacturing LLC names its captive Brookhaven Risk Insurance Company and lists its purpose as insuring product-liability and property risks of its parent.
Nuance or edge case. Since 2017, Georgia lets captives form as LLCs, so you may file articles of organization and an operating agreement instead of stock-corporation articles if that fits your plan.
Common mistake and consequence. Filers pick a captive name that is too close to an existing company, and the name fails clearance, which delays coordination with the Secretary of State.
Misconception. Many believe a Certificate of Incorporation lets them start writing insurance; it does not, because you cannot transact insurance until the Department issues a separate Certificate of Authority.
Part 3: Bylaws or Operating Agreement
What it asks in plain English. This part asks for the internal rulebook that says how your captive is run, who votes, and how decisions get made.
How to answer it. Attach the adopted or proposed bylaws (for a corporation) or the operating agreement (for an LLC). Match the governance terms to the structure named in your Articles.
Example entry. Peachtree Physicians Association attaches bylaws naming a five-member board and a yearly meeting in Atlanta, Georgia.
Nuance or edge case. If your bylaws are still in draft, you may submit the proposed version, but the final adopted copy must follow before licensing.
Common mistake and consequence. Filers submit bylaws that conflict with the Articles, such as a different board size, and the mismatch triggers a request for clarification that delays review.
Misconception. Some think bylaws are a formality the state ignores; the Division actually reads them to confirm the captive has real governance and oversight.
Part 4: Business Plan and Feasibility Study
What it asks in plain English. This is the core part. It asks you to describe what the captive will insure, how much it will charge, what losses it expects, and whether it can pay claims.
How to answer it. Follow O.C.G.A. 33-41-10 point by point. Describe coverages, limits, and deductibles; show historical and expected loss experience; include pro forma financials; analyze whether premiums and surplus are adequate; state your net retained limit and any reinsurance; confirm your investment policy meets the title; and name the geographic areas you will operate in.
Example entry. Brookhaven Risk Insurance Company writes that it will insure general liability with a $1,000,000 limit and a $25,000 deductible, ceding losses above $500,000 to a reinsurer.
Nuance or edge case. When the Commissioner requires it, you must add an opinion from a qualified independent casualty actuary on the adequacy of your capital, surplus, and premium levels.
Common mistake and consequence. Filers submit a generic, copy-paste plan that does not tie premiums to real loss data, and the Division finds the plan inadequate, which is the leading reason files are returned.
Misconception. Some think the feasibility study is a sales pitch; it is a solvency test, so optimistic numbers without loss support hurt rather than help.
Part 5: Identification of Operational Service Providers
What it asks in plain English. This part asks who will actually run the captive’s daily work, including management, underwriting, accounting, investments, and claims.
How to answer it. List each person or firm by name, describe their role, and show their experience and good character, as O.C.G.A. 33-41-10 requires. Name your approved captive manager first.
Example entry. Peachtree Physicians Association names Magnolia Captive Management LLC as its captive manager and Statewide CPA Group as its accountant.
Nuance or edge case. Georgia requires an approved captive manager, so if your chosen manager is not yet registered, that manager must apply using Form GID-279-RS before your file can move.
Common mistake and consequence. Filers list a service provider with no proof of relevant captive experience, and the Division questions the adequacy of expertise, which slows approval.
Misconception. Some believe the owner can run everything alone; Georgia expects qualified providers, and a thin team raises a red flag on the application.
Part 6: Biographical Affidavits (GID-052-NT / GID-415 Series)
What it asks in plain English. This part asks for a personal history of each key person, covering work background, ownership interests, and any legal or regulatory issues.
How to answer it. Fully answer every question on the biographical affidavit, write N/A where a question does not apply, sign it, and have it notarized. Order any required background report directly from the investigation firm so it goes straight to the Division.
Example entry. Dr. Lena Okafor, board president, answers the ownership question and writes that she holds a 20% interest in the proposed entity.
Nuance or edge case. Background reports can take weeks to a month or more, so start them early; if a person filed a recent affidavit with the Division within the past 12 months, a new one may not be needed.
Common mistake and consequence. Filers leave a question blank instead of writing N/A, and the Division treats the affidavit as incomplete, which voids that person’s vetting until it is fixed.
Misconception. Some think only the owner needs an affidavit; in practice each key officer, director, and the principal manager must each submit one.
Part 7: Proof of Minimum Capital and Surplus
What it asks in plain English. This part asks you to prove you have put in the minimum money the law requires and deposited the right amount with the state.
How to answer it. Match your captive type to O.C.G.A. 33-41-8 and provide evidence the surplus is paid in. Hold up to $500,000 of it in cash, FDIC-insured certificates or accounts, or a qualifying letter of credit.
Example entry. Brookhaven Risk Insurance Company (a pure captive) deposits $250,000 in cash and attaches the bank confirmation.
Nuance or edge case. The Commissioner sets capital on an individual basis and can require more than the floor if your risk profile is large or volatile.
Common mistake and consequence. Filers fund the account with the wrong type of asset, such as an uninsured deposit, and the Division rejects it as non-qualifying surplus, holding up the Certificate of Authority.
Misconception. Some think the minimums are the same for all captives; they vary, as the table below shows.
| Captive Type | Minimum Surplus Required |
|---|---|
| Pure captive insurance company | $250,000 |
| Agency captive insurance company | $250,000 |
| Sponsored captive insurance company | $250,000 |
| Association captive insurance company | $500,000 |
| Industrial insured captive insurance company | $500,000 |
| Risk retention group | $500,000 |
These figures come straight from O.C.G.A. 33-41-8, and loans of these minimum funds are prohibited under Regulation 120-2-45.
Part 8: Investment Policy Statement
What it asks in plain English. This part asks how the captive will invest its money and confirms those investments are allowed under the law.
How to answer it. Write a short investment policy and include a statement certifying it complies with the title and names the types of investments you will make under O.C.G.A. 33-41-18.
Example entry. Peachtree Physicians Association states it will hold reserves in U.S. Treasury securities and FDIC-insured deposits.
Nuance or edge case. Any investment that would create a hazardous financial condition is barred, even if it technically fits a listed category.
Common mistake and consequence. Filers propose aggressive or illiquid holdings, and the Division flags the policy as risky, which can delay or condition the license.
Misconception. Some think a captive can invest freely like a private fund; Georgia limits investments to protect the captive’s ability to pay claims.
Part 9: Filing Fees and Payment
What it asks in plain English. This part asks you to pay the set government charges that come with the application.
How to answer it. Pay the $100.00 charter filing fee with your Articles and the $600 license fee at the time you file the Application for Certificate of Authority, as set in Reg 120-2-45-.12. Plan for a $500 renewal fee each year after.
Example entry. Brookhaven Manufacturing LLC pays $100 with its charter and $600 with its license application through the portal.
Nuance or edge case. You also pay the actual cost of any independent actuaries or accountants the Commissioner uses to examine your file, billed directly to the captive.
Common mistake and consequence. Filers pay only one fee and forget the other, and a short payment leaves the package incomplete, so the review clock never starts.
Misconception. Some think the fees cover all review costs; the examination charges are separate and can add up for complex plans.
Part 10: Signatures and Certified Financial Statement
What it asks in plain English. This final part asks for sign-off and a certified statement of the captive’s assets and liabilities.
How to answer it. Have the incorporators sign the Articles, and provide a financial statement certified by the captive’s president, prepared under the accounting standards in the title, as O.C.G.A. 33-41-10 requires.
Example entry. Dr. Lena Okafor, as president, signs and certifies the opening balance sheet showing $500,000 in surplus for the association captive.
Nuance or edge case. The Commissioner may require this certified statement and proof of deposit before issuing the Certificate of Authority, not after.
Common mistake and consequence. Filers submit an uncertified or unsigned statement, and the Division cannot accept it, which delays the final license step.
Misconception. Some think any bookkeeper can certify the numbers; the statute names the president as the certifying officer.
Three Filled-Out Examples Using Real Scenarios
Below are three common fact patterns, each following one filer through the package. Use them as models for how the parts fit together.
Scenario 1: Brookhaven Manufacturing forms a pure captive
| Form Section | What Brookhaven Enters |
|---|---|
| Captive type | Pure captive insurance company |
| Captive name | Brookhaven Risk Insurance Company |
| Coverages | General liability, $1,000,000 limit, $25,000 deductible |
| Loss data | Five years of product-liability loss runs |
| Minimum surplus | $250,000 in cash, per O.C.G.A. 33-41-8 |
| Captive manager | Magnolia Captive Management LLC |
| Charter filing fee | $100.00 |
| License fee | $600 |
| President certification | Signed by Sam Reyes, President |
Scenario 2: Peachtree Physicians forms an association captive
| Form Section | What Peachtree Enters |
|---|---|
| Captive type | Association captive insurance company |
| Captive name | Peachtree Physicians Insurance Company |
| Coverages | Medical malpractice, $1,000,000 limit |
| Minimum surplus | $500,000, per O.C.G.A. 33-41-8 |
| Governance | Five-member board in Atlanta, Georgia |
| Biographical affidavit | Filed by Dr. Lena Okafor (20% interest) |
| Actuarial opinion | Independent casualty actuary attached |
| Investment policy | U.S. Treasuries and FDIC-insured deposits |
| License fee | $600 |
Scenario 3: Coastal Agency forms an agency captive
| Form Section | What Coastal Enters |
|---|---|
| Captive type | Agency captive insurance company |
| Captive name | Coastal Agency Captive Insurance Company |
| Coverages | Reinsurance of agency-placed property risks |
| Minimum surplus | $250,000, per O.C.G.A. 33-41-8 |
| Net retained limit | $300,000 per risk, rest ceded |
| Service providers | Savannah Underwriting and Statewide CPA Group |
| Charter filing fee | $100.00 |
| Pro forma financials | Three-year projection attached |
| President certification | Signed by Tom Becker, President |
How to File the Completed Georgia Captive Application
Georgia routes new captive filings through its online system, and a quick pre-filing call to the Division comes first. Email the Captive Insurance Division staff to talk through your proposed captive and get any extra requirements before you submit. This step is not just polite; it often surfaces structural fixes that save weeks of back-and-forth.
- Online (current channel). File all fees, forms, and documents through the GIMS Portal, following the Application Checklist. Pay the $100 charter fee and $600 license fee in the portal, and keep the system confirmation as your proof of filing. Processing runs up to 45 days for the Articles and up to 90 days for the Certificate of Authority.
- By mail (confirm before using). Older guidance directed hard copies to the Georgia Insurance Department, ATTN: Director, Captive Insurance Division, P.O. Box 935138, Atlanta, GA 31193-5138. There is no separate fee beyond the filing fees; keep your certified mail receipt as proof.
- By courier or overnight. The separate courier address is Wells Fargo, Georgia Insurance Department, ATTN: Director, Captive Insurance Division, Lockbox #935138, 3585 Atlanta Ave, Hapeville, GA 30354. Keep the courier tracking record as your proof of delivery.
Because the Division has moved filings to the portal, confirm the current channel and any accepted payment methods on the agency page before you send anything by mail.
What Happens After You File
Once the Division has your full package, the review runs in two stages. First, the Division either approves or disapproves your proposed Articles of Incorporation within 45 days. If it approves them, it coordinates with the Georgia Secretary of State to issue your Certificate of Incorporation.
A Certificate of Incorporation is not permission to sell insurance. The Division then reviews your application for a Certificate of Authority and decides within 90 days, though it may extend that period another 90 days in writing under O.C.G.A. 33-3-15. During review, the Division can ask for more information at any time, and you must keep all statements current while the file is pending.
You may not transact insurance until the Commissioner issues the Certificate of Authority. Before issuing it, the Division may require proof that the minimum capital is paid in and deposited and a certified financial statement. Any material change to your application after filing needs prior approval, and a change the Commissioner does not disapprove within 30 days is deemed approved.
Mistakes to Avoid When Filling Out the Form
- Filing before the package is complete. The Division will not start its review, so your clock never begins.
- Submitting a generic business plan. A plan that does not match premiums to loss data gets returned as inadequate.
- Leaving affidavit questions blank. The Division reads a blank as missing information and voids that person’s review.
- Skipping notarization on affidavits. An unnotarized affidavit is not valid and must be redone, costing time.
- Funding surplus with non-qualifying assets. Uninsured deposits do not count, and the license is held up.
- Choosing the wrong captive type. It sets the wrong surplus floor and can require you to refile key parts.
- Forgetting one of the two fees. A short payment leaves the package incomplete and stalls review.
- Naming a captive too close to an existing company. Name clearance fails and delays Secretary of State coordination.
- Listing service providers with no captive experience. The Division questions expertise and slows approval.
- Confusing the two certificates. Acting on a Certificate of Incorporation before the Certificate of Authority is unlawful.
- Proposing risky investments. A non-compliant investment policy can trigger conditions or denial.
- Ignoring the pre-filing call. Skipping the Division discussion means fixable issues surface late and cost weeks.
Do’s and Don’ts
Do’s
- Do email the Division first to discuss your plan, because early feedback prevents costly rework.
- Do cross-reference the checklist, since the Division uses it as the index for your whole file.
- Do start background reports early, because they can take a month or more to come back.
- Do match your surplus to your captive type, so you meet the right O.C.G.A. 33-41-8 floor.
- Do tie premiums to real loss data, as that is what makes a feasibility study credible.
- Do keep your proof of filing, because you may need to show when the clock started.
Don’ts
- Don’t transact insurance early, since you need the Certificate of Authority first.
- Don’t leave checklist lines blank, because the Division reads blanks as missing items.
- Don’t reuse a generic plan, as a copy-paste study is the top reason files are returned.
- Don’t fund surplus with uninsured assets, because they will not count toward the minimum.
- Don’t mismatch your Articles and bylaws, since conflicts trigger clarification requests.
- Don’t skip the certified financial statement, because the president must certify it before licensing.
Pros and Cons of Filing on Your Own vs. With a Captive Manager
Georgia requires an approved captive manager to run the captive, so most filers work with one from the start. Still, it helps to weigh the trade-offs.
Pros of filing with a captive manager
- Faster review, because managers know the checklist and avoid common gaps.
- Stronger business plan, since managers build feasibility studies the Division accepts.
- Required expertise, as Georgia expects qualified providers named in the file.
- Actuarial coordination, because managers line up the casualty actuary opinion when needed.
- Ongoing compliance, since the manager handles renewals and material-change filings later.
Cons of filing with a captive manager
- Added cost, because manager fees stack on top of the state fees.
- Less direct control, since a third party handles much of the paperwork.
- Dependence on one firm, as switching managers mid-application can slow things.
- Scheduling delays, because background reports and actuary work run on their timelines.
- Examination charges, since the captive still pays the Commissioner’s independent reviewers directly.
Mail Filing vs. GIMS Portal Filing
| Mail or Courier Filing | GIMS Portal Filing |
|---|---|
| Older channel; confirm before using | Current channel the Division directs |
| Hard copy to Atlanta P.O. Box or Hapeville lockbox | Upload documents and pay online |
| Proof is your mail or courier receipt | Proof is the portal confirmation |
| Slower to log in and route internally | Faster intake and tracking |
| Separate addresses for mail vs. courier | One online entry point |
FAQs
Do I need a different application for each captive type?
No. You use the same core application package, but your captive type changes your surplus floor, your forms, and parts of your business plan, so tailor each section to the type you select.
Do I write my captive’s legal name or trade name in the Articles of Incorporation?
Yes. Write the full proposed legal name of the captive, since that exact name goes to the Secretary of State and must clear before incorporation.
Do I have to include an actuarial opinion in every application?
No. You include an independent casualty actuary opinion only when the Commissioner requires it, though complex or volatile risk profiles usually trigger that request.
Do I write N/A or leave a biographical affidavit question blank if it does not apply?
Yes. Write N/A on any question that does not apply, because a blank is read as incomplete and voids that person’s review until fixed.
Do all officers and directors need a biographical affidavit, or just the owner?
No. Not just the owner; each key officer, director, and the principal manager must each submit a signed, notarized affidavit.
Do I pay both the charter fee and the license fee?
Yes. You pay a $100.00 charter filing fee with the Articles and a $600 license fee with the Certificate of Authority application, per Reg 120-2-45-.12.
Do I include proof of capital with the first filing or later?
Yes. You should be ready to show it, because the Commissioner may require proof the surplus is paid in and deposited before issuing the Certificate of Authority.
Do I get to sell insurance once the Secretary of State issues a Certificate of Incorporation?
No. You cannot transact insurance until the Department issues a separate Certificate of Authority, which is a different document from the Certificate of Incorporation.
Do I file the application online or by mail?
Yes. File through the GIMS Portal online; older mail and courier addresses still exist, so confirm the current channel on the agency page first.
Do I need to contact the Division before I submit?
Yes. Email the Captive Insurance Division first to discuss your proposed captive, since early feedback often prevents weeks of rework.
Do letters of credit count toward my minimum surplus?
Yes. Up to $500,000 of minimum capital may be held in cash, FDIC-insured deposits, or one or more qualifying letters of credit under O.C.G.A. 33-41-8.
Do I need prior approval to change my application after filing?
Yes. Any material change to the required items needs prior approval, but a change the Commissioner does not disapprove within 30 days is deemed approved.
Do I have to use an approved captive manager?
Yes. Georgia expects an approved captive manager, so if yours is not registered, that manager must apply before your file can move forward.
Do I need to refile every year?
Yes. A captive renews each year with a $500 renewal fee due after initial licensure, per Reg 120-2-45-.12.
Related reading
- How to Fill Out Georgia Investment Adviser Registration (Form ADV) + FAQs
- How to Fill Out the Agency Captive Application (w/Examples) + FAQs
- How to Fill Out the Montana Captive Insurance Company Application + FAQs
- How to Fill Out the South Carolina Captive Insurance Application + FAQs
- How to Fill Out the Tennessee Captive Insurance Company Application + FAQs
- How to Fill Out the Utah Captive Insurance Company Application + FAQs