Wednesday, July 24, 2024

Membership options

Meta deploys captive alongside Side A ‘Laser DIC’ policy


  • Hard D&O market prompted Meta to look for alternative options
  • Corporate Law changes in Delaware earlier this year permitted the use of captives for some Side A risks
  • Laser DIC policy tailored to ensure Ds & Os retain coverage equivalent to the commercial market
  • Meta creates separate cell within its Hawaii captive to segregate D&O capacity from other risks

Meta, the parent company of Facebook and WhatsApp, has used its Hawaii-domiciled captive to provide Side A insurance coverage to its directors and officers.

The technology giant originally formed Honu Insurance Company, LLC in December 2020 to start reinsuring international employee benefits.

Subscribe to Ci Premium to continue reading
Captive Intelligence provides high-value information, industry analysis, exclusive interviews and business intelligence tools to professionals in the captive insurance market.