The BMA's capital and solvency requirements are lower for captives than for other categories of insurer, though the BMA also monitors the "risk gap" between policy liabilities and available assets. However, capital and solvency requirements for captives are increased where liability risks are included, due to the possibility of third party claimants. The BMA licenses insurance managers and there are specific differences in the governance, management and systems and controls requirements for captives to take account of this.