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Captive Insurance News

 Latest News
  • Legitimate Captive Insurance Companies Are Not Driven by Tax Planning Strategies Here is a message that needs to be delivered to all those involved in advising, regulating, or legislating tax policy: captive insurance companies are genuine risk management organizations that add value to their owners.
  • Bermuda Responds to "Tax Haven" Charge Tax reform is on the agenda not only in the United States but elsewhere in the world, as well. A report of Oxfam, a global antipoverty agency, has joined those calling for corporate tax reform, and the Bermuda Business Development Agency responded quickly.
  • Captive Insurance Basics: A Guide to Rental Captive Insurers Rental captives are but one form of a captive insurance company. A captive insurer is an insurance company that is wholly owned and controlled by its insureds; its primary purpose is to insure the risks of its owners, and its insureds benefit from the captive insurer's underwriting profits.
  • Is ORSA a Future Requirement for Captives? The National Association of Insurance Commissioners (NAIC) adopted the Risk Management and Own Risk and Solvency Assessment (ORSA) Model Act (#505), which was effective January 1, 2015, for certain large insurers and is required for state insurance department accreditation by January 1, 2018.
  • Insurance, Technology, and Artificial Intelligence Technology and Insurance: Are You Prepared for the Coming Disruptions? This was the name for the Pinnacle Actuarial Resources, Inc., APEX webinar on December 1, 2016. The hour-long presentation by Christopher M. Holt, ACAS, MAAA, and Legaré W. Gresham, FCAS, MAAA, focused on six new technologies and their ability to disrupt the liability insurance landscape.
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  Stock Market

Legitimate Captive Insurance Companies Are Not Driven by Tax Planning Strategies

Here is a message that needs to be delivered to all those involved in advising, regulating, or legislating tax policy: captive insurance companies are genuine risk management organizations that add value to their owners.
December 16, 2016 Read More
  Flat World Map

Bermuda Responds to "Tax Haven" Charge

Tax reform is on the agenda not only in the United States but elsewhere in the world, as well. A report of Oxfam, a global antipoverty agency, has joined those calling for corporate tax reform, and the Bermuda Business Development Agency responded quickly.
December 14, 2016 Read More
  Rental Application

Captive Insurance Basics: A Guide to Rental Captive Insurers

Rental captives are but one form of a captive insurance company. A captive insurer is an insurance company that is wholly owned and controlled by its insureds; its primary purpose is to insure the risks of its owners, and its insureds benefit from the captive insurer's underwriting profits.
December 13, 2016 Read More
  Insurance Risk Definition

Is ORSA a Future Requirement for Captives?

The National Association of Insurance Commissioners (NAIC) adopted the Risk Management and Own Risk and Solvency Assessment (ORSA) Model Act (#505), which was effective January 1, 2015, for certain large insurers and is required for state insurance department accreditation by January 1, 2018.
December 08, 2016 Read More
  Technology--Blockchain

Insurance, Technology, and Artificial Intelligence

Technology and Insurance: Are You Prepared for the Coming Disruptions? This was the name for the Pinnacle Actuarial Resources, Inc., APEX webinar on December 1, 2016. The hour-long presentation by Christopher M. Holt, ACAS, MAAA, and Legaré W. Gresham, FCAS, MAAA, focused on six new technologies and their ability to disrupt the liability insurance landscape.
December 06, 2016 Read More
  Globe

Captive Insurance World: What's Happening Now

Here are some recent and upcoming events in the captive insurance industry that may be of interest to our readers.
December 02, 2016 Read More
  New Management

Captive Insurer Established in Connecticut Offers Look at SOBC Corp. Process

The president and CEO of SOBC Corp. explains the acquisition process for distressed insurance companies and risk retention groups.
November 30, 2016 Read More
  New Jersey Flag

Captive Insurer Licensed To Reinsure Underground Storage Tank Owners in NJ

Founders Indemnity Group, Inc., was licensed by the New Jersey Department of Banking and Insurance on November 2, 2016.
November 28, 2016 Read More
  Workload

831(b) Captive Insurers and Advisers Face a Heavy Workload in the Next 90 Days

There is a lot to do in the next 90 days for captives and their material advisers who have made elections under 26 US Code § 831(b) of the Internal Revenue Code. The reporting requirements will be applicable to “[v]irtually all of the captives that have selected the 831(b) tax option,” according to John Colvin, an attorney at Colvin + Hallett and a panelist on the American Bar Association’s (ABA) Captive Insurance Committee’s webinar that was held November 9, 2016.
November 11, 2016 Read More
  IRS Building

IRS 70 Percent Loss Ratio for 831(b) Captive Insurers—Reasonable?

One of the sections in recent Internal Revenue Service (IRS) Notice 2016-66 that may be of concern to all captives, as well as commercial insurers, is the implication that an 831(b) captive with a loss and loss adjustment expense (LAE) ratio of less than 70 percent may not be an “insurance arrangement.”
November 10, 2016 Read More
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