Direct placement taxes apply to both surplus lines placements as well as placements with any nonadmitted company, such as a captive insurer.
Michael Maglaras considers what Brexit means for the Lloyd’s of London market and for those with captive insurance companies in the Lloyds market.
A reinsurer has the duty to pay unless it has been prejudiced. Prejudice may be easier to show if a captive insurer is not handling its claims properly.
There are numerous claims benefits associated with captive insurance. Taking control of their own claims gives captive owners the control they seek.