22 V.I.C. § 1431

(a) The purpose of this subchapter is to provide a basis for the creation of protected cells by an Exempt Captive Insurer for one or more of the following uses:(a) As one means of accessing alternative sources of capital and alternative vehicles for insurance programs;(b) For providing some or all of the benefits of a captive insurer for insureds for which the creation of a stand-alone captive insurer is not feasible or practical;(c) As one means of providing access to a program of insurance.

(a) As one means of accessing alternative sources of capital and alternative vehicles for insurance programs;

(b) For providing some or all of the benefits of a captive insurer for insureds for which the creation of a stand-alone captive insurer is not feasible or practical;