This Chapter does not apply to captive insurers in recognition of the structure of these licensees and limited exposure to policyholders. Insurance firms who are in run-off and whose license is restricted from entering into new contracts of insurance as per Paragraph GR-8.1.3, are grandfathered and not required to apply the requirements of Paragraph BR-1.4.1. In addition, insurance firms whose business is limited to reinsurance are not required to apply the requirements of Paragraph BR-1.4.1.