What is the main purpose of the operational plan required from a captive insurance company?

The main purpose of the operational plan required from a captive insurance company is to detail intended operations and management. This plan is essential for outlining how the captive will be structured and managed in terms of its daily operations, governance, and objectives. By providing a comprehensive overview of operational strategies, the plan allows regulatory authorities to assess the financial viability and risk management processes of the captive, ensuring that it can effectively serve its intended purpose.

In contrast, while marketing strategies are important for any business, they do not represent the core functions of a captive insurance company. Listing available insurance products, although relevant, is part of broader operational considerations rather than the central focus of the operational plan. Securing a partnership with a surplus lines carrier doesn't directly relate to the internal management and operational setup of the captive itself, making this option less relevant to the primary purpose of an operational plan.