Alberta: Considerations in Establishing a New Captive Jurisdiction
Bibliographic record
Abstract
The Captive Insurance Companies Act, formerly Bill 76, was introduced by the government of Alberta in October 2021 and passed in December 2021. The act enables entities to establish their own insurance company, called a captive insurer. A captive insurance company is created and owned by a non-insurance parent for providing insurance coverage for the parent company’s exposures and/or those of associated parties. This paper discusses the regulatory policy elements that serve as the key foundations for the captive insurance market in major captive insurance jurisdictions, best practices for captive insurance regulation, and key elements of a best-of-breed regulatory regime that is needed in Alberta to be a competitive captive jurisdiction. We examine regulation and policy elements in leading captive insurance jurisdictions and identify policies that have been implemented to stimulate growth of captive insurance markets. To foster an environment for a robust captive insurance market, regulation must ensure fast and predictable licensing and setup (or redomiciliation), be cost neutral, and have simple, reasonable requirements for capital, solvency, and reporting. It is equally important that Alberta’s captive regulator have the mindset of a captive regulator, meaning that it appreciates the distinction between regulating traditional insurers versus captives, has a willingness to work with the captive industry, and is responsive to regulatory changes taking place in the competitive captive marketplace.
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How this classification was reachedexpand
Full frame machine prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. The Gemma side is a direct model label for every work in the frame, read from the title-only record. The Codex side is a classifier learned from the 10,348 direct Codex labels and calibrated to design-weighted sample rates; fields without enough sample support carry no Codex call. Candidate is the union of the two sides; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels.
Distilled classifier scores by category (both heads)
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.015 | 0.016 |
| Meta-epidemiology (narrow) | 0.000 | 0.001 |
| Meta-epidemiology (broad) | 0.000 | 0.001 |
| Bibliometrics | 0.001 | 0.001 |
| Science and technology studies | 0.017 | 0.011 |
| Scholarly communication | 0.014 | 0.005 |
| Open science | 0.005 | 0.004 |
| Research integrity | 0.011 | 0.009 |
| Insufficient payload (model declined to judge) | 0.006 | 0.001 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one source (direct Gemma or distilled Codex), not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".