Legal Developments

Veto Overridden on Illinois Legislation Containing Captive Provisions

November 28, 2018

Illinois lawmakers Tuesday overrode an earlier gubernatorial veto of legislation that will set new minimum capital and surplus requirements for captive insurance companies licensed in Illinois. Read More

Barbados Repeals Exempted Insurance Act, Captives Maintain Zero Tax

November 21, 2018

The government of Barbados has announced a number of legislative measures as it moves toward tax convergence of the country's international and domestic business sectors. Captive insurers will maintain zero taxation. Read More

RIMS White Paper Explores 2018's Top 6 Legal Developments

November 15, 2018

A new RIMS report, titled "Top Six Legal Developments of 2018," highlights the most significant legal decisions of 2018 and explores their relevance to the risk management community. Read More

The NAIC Continues Work on the US-EU Covered Agreement

September 24, 2018

The National Association of Insurance Commissioners (NAIC) held its 2018 Summer National Meeting August 4-7 in Boston, Massachusetts. A noteworthy matter of interest was the NAIC's continued work related to the US-EU covered agreement. Read More

Reserve Mechanical, Part II: Motion for Reconsideration Denied

September 21, 2018

P. Bruce Wright and Saren Goldner extract the salient features of the US Tax Court's denial (without comment) of the taxpayer's motion for reconsideration in the "Reserve Mechanical" case. In order to seek any further relief, the taxpayer will need to appeal the case. Read More