Legal Developments

Survey Tracks Global Cyber-Risk Perception Leading into GDPR Implementation

February 27, 2018

The upcoming implementation of the European Union's General Data Protection Regulation (GDPR), that takes effect in May 2018, has elevated cyber risk to the top of the corporate agenda for organizations doing business in Europe according to a Marsh report titled "GDPR Preparedness: An Indicator of Cyber Risk Management." Read More

New Bill Introduced To Restore FHLB Membership for Captive Insurers

February 13, 2018

US senators have introduced a new bill, the Housing Opportunity Mortgage Expansion Act, to restore membership for captive insurers that were removed from the Federal Home Loan Bank (FHLB) system and also seek to continue membership for remaining captive insurers that are scheduled to be forced to exit the system. Read More

Expect Puerto Rico Captive Insurance Initiatives in 2018

December 13, 2017

According to the Puerto Rico International Insurers Association (PRIIA), the US territory's insurance and financial services sector continues to grow with minimal interruption in the aftermath of Hurricane Maria and despite ongoing budget challenges. PRIIA said Puerto Rico has a strong and bright future ahead for insurance opportunities, including captive insurance company formations. Read More

Avrahami Motion for Reconsideration: "No Such Luck"

November 22, 2017

On September 21, 2017, in a motion for reconsideration, the Avrahamis asked Judge Mark V. Holmes to reconsider his August 21, 2017, decision in "Avrahami v. Comm'r and Feedback Ins. Co., Ltd. v. Comm'r," 149 T.C. 7 (2017). Responding to the motion, the judge issued an order on November 14, 2017, that denied the motion. Read More

"Notice 2016-66 Remains Intact" as Court Dismisses CIC and Ryan Lawsuit

November 8, 2017

On November 2, 2017, just over 1 year to the day after the Internal Revenue Service (IRS) issued Notice 2016-66, Judge Travis R. McDonough dismissed the CIC Services, LLC, and Ryan, LLC, lawsuit that sought to enjoin the IRS from enforcing the notice. Read More