Market News
Congress Should Address IRS Oversight and Support Small Businesses
The 831(b) Institute urges Congress to reassess Internal Revenue Service (IRS) oversight of small captive insurance companies, emphasizing their role in managing global risks for small businesses. He argues that current IRS actions may hinder legitimate risk management, pushing businesses towards limited commercial insurance options and stifling innovation in risk financing. Read More
Podcast Explores Collateral Obligations in Large Deductible and Captive Reinsurance
Understand insurer collateral obligations for large deductible and captive reinsurance programs. Learn methodologies to calculate collateral requirements, reduce obligations by challenging industry assumptions, and manage long-tail loss development. Gain insights into how collateral protects insurers while enabling organizations to self-insure and reduce market premiums. Read More
Hawaii Enacts New Law Allowing for Dormant Captive Insurance Companies
Hawaii's Act 069 enables captive insurance companies to obtain a certificate of dormancy, exempting them from certain taxes and reporting requirements while remaining legally compliant. Read More
UK Positioned To Become a Captive Insurance Domicile with Proper Regulations
The United Kingdom has the potential to lead in captive insurance with the right regulations. Industry experts urge the government to adopt a favorable regime, which could attract significant business, boost the economy, and create jobs, positioning the United Kingdom as a key global player in the insurance market. Read More
IAIS Opens Public Consultation on Draft Operational Resilience Objectives
The International Association of Insurance Supervisors (IAIS) has launched a public consultation on its draft paper on operational resilience objectives for the insurance sector, inviting feedback by October 11. This is the first phase of a two-part effort, with a toolkit to follow in 2025. A public webinar will be held in September to discuss the draft. Read More