Legal Developments

The Dobbs Decision and Captives

June 7, 2023

Captives underwriting medical professional and general liability coverages face new challenges as a result of the US Supreme Court's 2022 decision in Dobbs v. Jackson Women's Health Org., 142 S. Ct. 2228 (2022). These challenges should be evaluated and understood by captive boards of directors, risk managers, and claim managers. Read More

Report Takes Aim at Lack of Third-Party Litigation Funding Disclosure

August 1, 2022

Third-party litigation funding has become a multibillion-dollar business and is contributing to the growth of insurers' legal costs and the size of settlement payouts, according to a new report from the Insurance Information Institute. The lack of transparency around lawsuit financing can extend a suit's duration and increase costs. Read More

July "CICR" Analyzes Reserve Mechanical Opinion

July 11, 2022

Don't miss the July issue of "Captive Insurance Company Reports" ("CICR"), in which P. Bruce Wright and Saren Goldner from Eversheds Sutherland (US) LLP provide an analysis of a recent opinion by the US Court of Appeals for the Tenth Circuit in the micro-captive case Reserve Mechanical Corp. v. Commissioner. Read More

Washington State Bill Seeks To Clarify Captive Premium Tax Obligations

January 25, 2021

A senate bill introduced in the state of Washington is seeking to formalize and clarify the position of captive insurers covering risks in the state. Senate Bill 5315 puts a number of requirements on captives that are writing Washington-based risks and are owned by Washington-headquartered companies. Read More

Vermont Files Federal Fraud Suit Against Captive Executive, Advisers

November 4, 2020

Vermont's Department of Financial Regulation has filed a federal suit against a captive insurance executive and financial adviser alleging a multimillion-dollar fraud against policyholders. The suit names the former president of Global Hawk Risk Retention Group and several of Global Hawk's outside professional advisers. Read More