Captive Insurance Issues and Trends 2017
A FREE 30-page special report courtesy of Captive.com
Dig deep into important issues and trends in captive insurance. Download this FREE special report featuring practical knowledge and insights from 11 respected captive insurance thought leaders!
Download FREE Report Now
Randall & Quilter (R&Q) Insurance (Malta) Ltd. announced January 5, 2017, that it has acquired the entire issued share capital of Clariant Insurance AG (CI) from its owner, Clariant AG.
The Captive.com-IRMI editorial team, with help from others, put together a 2017 new year’s wish list for your consideration.
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.
Mark Twain (but also attributed to Gideon Tucker) is quoted as having said, "No man's life, liberty or property are safe while the Legislature is in session." This will be especially true when Congress convenes in the new year and considers tax reform. Tax reform was a hot topic during the recent election, and the Republican majority in the House of Representatives is already gearing up to advance some significant changes in Federal tax law.
Here are some recent and upcoming events in the captive insurance industry that may be of interest to our readers.
Milliman recently released a white paper titled "Blockchain: An Insurance Focus" by Michael A. Henk and Robert T. Bell. The report points out the various impediments, one of which is regulation, that exist to the rapid adoption of this technology,.
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.
The District of Columbia Department of Insurance, Securities and Banking (DISB) held a webinar November 9, 2016, sponsored by the Captive Insurance Council of the District of Columbia (CIC-DC), discussing the state of affairs in the domicile.
The Housing Authority Insurance Group (HAIG) is looking to hire a corporate governance specialist. HAIG includes four insurance companies and eight other organizations that serve the public housing and nonprofit housing communities. Although your captive or corporate group may not be the size of HAIG, there is much to be gleaned from the HAIG job description that details the scope of corporate governance support needed in a group captive environment.
Most captives were probably unaware that InsureTech hosted its first annual conference October 5–6, 2016, in Las Vegas. The first InsureTech Connect 2016 conference had an estimated 1,500 attendees. From around the world, tech entrepreneurs, investors, and insurance executives met to discuss the impact of technology on the future of the insurance industry.