(a) Any captive insurer and any Captive Insurer Support Business licensed by the Commissioner under this chapter shall be exempt from all other insurance laws of the Virgin Islands other than those contained in this chapter or contained in specific references contained in this Title.
(b) With respect to captive insurers, such exemption includes but is not limited to the following:(1) No captive insurer shall be required to join or otherwise contribute to or receive benefit from any pool, association, plan, guaranty or insolvency fund created or operating within this Territory.(2) No captive insurer shall be required to join a rating organization or otherwise be subject to rating rules of this Territory with respect to any policy issued by such captive insurer.
(1) No captive insurer shall be required to join or otherwise contribute to or receive benefit from any pool, association, plan, guaranty or insolvency fund created or operating within this Territory.
(2) No captive insurer shall be required to join a rating organization or otherwise be subject to rating rules of this Territory with respect to any policy issued by such captive insurer.
(c) To the extent not otherwise provided for in this chapter and necessary for the implementation of its provisions and not otherwise inconsistent with the provisions herein, the general provisions of this title shall be applicable to all licensed captive insurers and Captive Insurer Support Businesses. If a conflict arises between a provision of Title 22 and a provision of this chapter, the provisions of this chapter shall control.