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Captive Insurance Issues and Trends 2017

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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
  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

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
  Court Ruling Gavel

Rehearing Requested for LRRA Preemption Ninth Circuit Court Decision

The U.S. Court of Appeals for the Ninth Circuit upheld the federal Liability Risk Retention Act (LRRA) preemption status in September 2016 in Attorneys Liability Protection Society, Inc. v. Ingaldson Fitzgerald, P.C., Nos. 13–35115, 13–35172, 2016 U.S. App. LEXIS 17396 (9th Cir. 2016).
October 28, 2016 Read More
  Court Ruling Gavel

NRRA Advocacy for RRGs under the Liability Risk Retention Act

In 1986, Congress passed the Liability Risk Retention Act (LRRA). This Act allows homogeneous groups to form a risk retention group (RRG) in order to write liability insurance coverage. Its policyholders are the owners.
October 13, 2016 Read More
  Oklahoma Flag

Oklahoma Workers Compensation Opt-Out Statute Ruled Unconstitutional

In a 7–2 ruling on September 13, 2016, the Oklahoma Supreme Court ruled that the state workers compensation opt-out statue is unconstitutional. The court ruling was based upon the fact that one group of injured workers was being treated differently from all other injured workers in the state.
September 15, 2016 Read More

Captive Insurance Emerging Issues Focus of September CICR

The lead article in the September 2016 issue of "Captive Insurance Company Reports" provides a firsthand look into how the expanding use of telemedicine works across state lines and the complexities associated with the multiple layers of regulation.
September 07, 2016 Read More
  Workers Comp

Opting Out of Workers Compensation

The International Association of Industrial Accident Boards and Commissions (IAIABC) issued a report in May 2016 that compares the benefits and coverage of the workers compensation opt-out alternative adopted by Oklahoma with the traditional compulsory workers compensation coverage required in most states.
July 29, 2016 Read More

Insurance Case Law Summaries Resource from IRMI

Insurance Case Finder—a customized court case search engine from IRMI, the owner of—is a great resource for captive managers and claims adjusters.
July 14, 2016 Read More
  Gavel on Top of Legal Books

NRRA Files Amicus Curiae Brief in Continuing Effort To Benefit RRGs

The National Risk Retention Association (NRRA) last month filed an amicus curiae brief in the Louisiana Supreme Court in support of CPA Mutual RRG in the ongoing case of Zeigler v. Hous. Auth. of New Orleans, according to an NRRA press release.
May 19, 2016 Read More
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