Regulation and Oversight

FERMA Highlights Key Risk Management Roles in AI and Sustainability Regulations

October 17, 2024

FERMA's policy notes on the European Union's Artificial Intelligence (AI) Act and Corporate Sustainability Reporting Directive highlight the key roles of risk managers in compliance, insurance implications, and sustainability reporting. Risk managers are advised to implement AI governance, assess "silent AI" risks, and align risk analysis with sustainability standards under the European Green Deal. Read More


IRS Moves Forward with Micro-Captive Regulations

October 10, 2024

The Internal Revenue Service (IRS) is working to finalize regulations aimed at tightening disclosure requirements for potentially abusive tax transactions, including those involving captive insurance companies using § 831(b) for tax treatment. These new rules are expected to increase compliance scrutiny, which could result in legal challenges as the IRS moves toward finalization. Read More


US Department of Labor Proposes First Pension Plan Exemption for Captive Insurance

August 5, 2024

The Department of Labor proposed its first pension plan exemption for captive insurance, with Memorial Sloan Kettering Cancer Center seeking approval to reinsure a guaranteed annuity contract through its captive insurer. This shift from prior exemptions focused on welfare benefit plans is detailed by Eversheds Sutherland. Read More


Connecticut Passes Law Enhancing Captive Insurance Flexibility

July 18, 2024

Connecticut has enacted Public Act No. 24-138, enhancing flexibility for captive insurers and strengthening industry support, effective October 1, 2024. Read More


FERMA's Policy Manifesto Calls on EU to Simplify Regulations and Enhance Risk Management

July 15, 2024

The Federation of European Risk Management Associations (FERMA) manifesto urges the European Union (EU) to simplify regulations, support net-zero transition, enhance cyber security, and strengthen crisis preparedness for future resilience. Read More