Legal Developments
831(b) Captive Owners File Lawsuit Against Gallagher and Artex
Arthur J. Gallagher & Co. and its captive management unit, Artex Risk Solutions Inc., are being sued by a group of small employers alleging they have had to pay back taxes and other penalties to the Internal Revenue Service, involving their participation in 831(b) captives. Read More
Veto Overridden on Illinois Legislation Containing Captive Provisions
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
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
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
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