Application for Recognition - Captive Insurance Company Independent Certified Public Accountant - Connecticut

Application for Recognition - Captive Insurance Company Independent Certified Public Accountant is a legal document that was released by the Connecticut Insurance Department - a government authority operating within Connecticut.

FAQ

Q: What is an application for recognition for a captive insurance company?
A: An application for recognition is a process where a captive insurance company seeks official recognition or approval.

Q: What is a captive insurance company?
A: A captive insurance company is an insurance company established by a parent company to provide coverage primarily for the parent company's risks.

Q: What is an Independent Certified Public Accountant?
A: An Independent Certified Public Accountant is a licensed accounting professional who performs auditing and financial reporting for companies.

Q: Why is an Independent Certified Public Accountant required for a captive insurance company?
A: An Independent Certified Public Accountant is required to provide an unbiased assessment of the financial statements and operations of a captive insurance company.

Q: What is the purpose of obtaining recognition for a captive insurance company?
A: Obtaining recognition for a captive insurance company provides official acknowledgement of its existence and legitimacy.

Q: Who should submit the application for recognition?
A: The captive insurance company itself should submit the application for recognition.

Q: Are there any specific requirements for the Independent Certified Public Accountant?
A: Yes, the Independent Certified Public Accountant must meet certain qualifications and be approved by the Connecticut Insurance Department.