IronKey One · Enterprise and global
You need American paper. You should not have to give away the result.
A technology company signing enterprise customers, or a global concern opening U.S. operations, needs an admitted certificate of insurance before it needs anything else. Landlords require it. Enterprise procurement requires it. Lenders, licensing boards and thirty-odd state regulators require it. Almost nobody outside the United States can issue it for themselves.
IronKey One puts admitted paper in front of you nationwide, and puts your own regulated vehicle behind it — so you get the certificate and you keep the underwriting result of your own experience.
Model your structure How a DLRP works
DLRP programmes
Deductible Loss Reimbursement Policies, written nationwide.
Admitted U.S. paper in front, your own captive behind it, and the underwriting result of your own experience kept where it belongs.
DLRP programmesCaptive management
Formation, domicile selection, and the running of the vehicle.
Feasibility, licence application, capitalisation, actuarial, audit, tax and board governance — one manager accountable for all of it.
Captive managementReinsurance intermediation
Quota share and excess of loss, placed and disclosed.
Structured, priced, marketed and placed by a licensed intermediary whose brokerage is on the face of the slip.
Reinsurance intermediationThe three things we do, and how they fit together
| Service | What it is | What it solves | Who pays us, and how |
|---|---|---|---|
| DLRP programmes | A Deductible Loss Reimbursement Policy issued by a captive you own, sitting behind a large-deductible policy on admitted fronting paper. Available on a nationwide basis. | You get a certificate a U.S. counterparty will accept, in every state you operate in, while the layer you were always going to pay is financed as insurance premium inside a vehicle you control. | A stated programme fee, disclosed before engagement. Not a percentage of a number we also calculate. |
| Captive management | Feasibility study, domicile selection, licence application, capitalisation, actuarial, audit, tax, board governance and the annual filings. | One manager accountable for the vehicle instead of four vendors who each blame the others at examination time. | A flat annual management fee. It does not move with your premium, because it should not. |
| Reinsurance intermediation | Quota share and excess-of-loss programmes structured, priced, marketed and placed by a licensed reinsurance intermediary-broker. | Capital relief and volatility control for the captive, and access to markets that will not deal with an unrepresented cedant. | Brokerage on ceded premium, at a rate printed on the face of the slip. No undisclosed contingent compensation from a reinsurer. |
Who this is built for
A technology company scaling into enterprise contracts
Your customers' procurement teams demand $5M of general liability, $10M of technology errors and omissions, cyber with real limits, and a certificate naming them as additional insured — before they sign. Meanwhile you may already be generating premium you do not capture: extended warranty, service contracts, an embedded programme sold alongside your product. That book is often what makes the structure pay for itself, and it is the cleanest route to the risk distribution a captive needs.
A global concern opening U.S. operations
Your group programme was written in London, Munich, Tokyo or Singapore, and none of it produces a certificate that a Texas landlord or a California licensing board will accept. You need admitted local paper in every state you touch, with the risk flowing back to the group. That is a fronting-and-captive question, not a broking question, and it is answered before you sign a lease — not after.
A group already carrying a large deductible
You are funding the retained layer from operating cash, posting a bank letter of credit against it, and getting no deduction for money you have merely set aside. Every one of those three is fixable.
A programme, MGA or platform
You have the distribution and the data and you are renting someone else's balance sheet for all of it. A captive taking a quota share of your own programme changes who keeps the result.
Model it before you talk to anybody
The structuring engine below is the same one our consultants use. It compares guaranteed cost, a large deductible funded from cash, and a large deductible with a DLRP into a captive — and it shows every line, including the ones that argue against the captive. Sometimes the honest answer is "not yet", and the model says so.
Domiciles
Where the vehicle is licensed changes its capital, its tax, its examination burden and how long it takes to stand up. Section 831(b) written-premium ceiling for 2026: $2,900,000. Figures below are indicative and were last checked 2026-09-06 — they must be confirmed with the domicile before a filing.
| Domicile | Min. capital | Premium tax | Annual fees | Formation | Note |
|---|---|---|---|---|---|
| Vermont US onshore |
$250,000 | Graduated on direct written premium, tiered downward; statutory annual cap. | $12,500 | 6–10 wks | The benchmark U.S. onshore domicile. Deepest regulatory bench, most predictable examinations, and the one most fronting carriers and reinsurers are already comfortable with. |
| Tennessee US onshore |
$250,000 | No captive premium tax; annual renewal fee only. | $7,500 | 4–8 wks | Aggressive, service-oriented department. No premium tax makes the arithmetic clean. Strong protected-cell statute. |
| Utah US onshore |
$250,000 | No premium tax; flat annual renewal fee. | $6,000 | 4–8 wks | Low friction and low cost. Popular for smaller single-parent captives and 831(b) elections. |
| Delaware US onshore |
$250,000 | Graduated on direct and assumed premium; statutory annual cap. | $10,000 | 4–8 wks | Series-captive statute and a well-known corporate bench. |
| North Carolina US onshore |
$250,000 | Graduated on direct and assumed premium; statutory annual cap. | $8,500 | 4–8 wks | Fast-growing onshore domicile with a cost-competitive schedule. |
| Arizona US onshore |
$250,000 | No premium tax; flat annual fee. | $5,500 | 4–8 wks | No premium tax and a light-touch renewal process. |
| Hawaii US onshore |
$250,000 | Graduated on written premium; statutory annual cap. | $12,000 | 8–14 wks | The natural onshore domicile for Asia-Pacific parents; time-zone advantage for a global concern with an APAC head office. |
| Mississippi US onshore |
$250,000 | Graduated on direct and assumed premium; statutory annual cap. | $7,500 | 6–12 wks | IronKey's home domicile. Practical for a Mississippi-headquartered parent that wants its regulator in the same time zone and its counsel admitted in the same state. |
| Kentucky US onshore |
$250,000 | Graduated on written premium; statutory annual cap. | $7,000 | 6–12 wks | Cost-competitive onshore option. |
| Kentucky (incorporated cell) US onshore |
$100,000 | Cell-level fee; sponsor carries the core capital. | $4,000 | 3–6 wks | Cell structure: lower capital and faster formation, at the cost of some independence from the sponsor's core. |
| Cayman Islands offshore |
$100,000 | No premium tax. Annual licence fee by class. | $12,000 | 4–8 wks | Class B(iii) is the workhorse for a global concern. No premium tax, but premium ceded from a U.S. insured to a foreign insurer attracts federal excise tax unless a section 953(d) election is made. |
| Bermuda offshore |
$120,000 | No premium tax. Annual government fee by class. | $20,000 | 4–10 wks | Class 1 / Class 3 for a large global programme with real reinsurance capacity on the island. Solvency II equivalence matters for an EU parent. |
Not legal, tax, accounting or actuarial advice. Captive formation, section 831(b) eligibility, risk distribution and the deductibility of DLRP premium are questions for your tax counsel and your actuary. IronKey One LLC is an insurance intermediary and a captive manager; it is not a law firm, an accounting firm or an insurer, and it does not pay claims.
Insurance offered through licensed agents. IronKey Care is an independent insurance agency, not an insurer. Availability and eligibility vary by state.