Regulation and Oversight

NAIC Places Bermuda on Reciprocal Jurisdiction List

December 16, 2019

The Bermuda Monetary Authority will be placed on the National Association of Insurance Commissioners (NAIC) List of Reciprocal Jurisdictions effective January 1, 2020. Read More

Starbucks Disputes Captive Premium Taxes Levied by Washington State

December 12, 2019

Starbucks disputes premium taxes and fines levied by Washington State for its Vermont-domiciled captive insurance company. Read More

Labuan IBFC Leads Asia in Captive Insurer Formations

November 6, 2019

A recent report, titled "Driving Captive Transformation in Asia," reveals that 50 percent of all new captive incorporations in Asia are from Labuan International Business and Financial Center (Labuan IBFC). Read More

No Sign of Tax Battles Easing for Captive Insurance Companies

October 28, 2019

For decades, captive insurance companies have fought legal battles over tax issues with federal regulators and, more recently, state regulators, and there is no sign those battles are easing. Read More

UVM Health Network Captive Redomiciles from Bermuda to Vermont

October 17, 2019

Another major organization, the University of Vermont (UVM) Health Network in Burlington, has redomiciled its medical malpractice captive insurer, VMC Indemnity Company, Ltd., from Bermuda to Vermont. The relocation of the captive, which was first licensed in Bermuda in 1993, was applauded by Vermont Governor Phil Scott. Read More