Regulation and Oversight

Micro-Captives Missing from this Year's IRS "Dirty Dozen" List

July 20, 2020

Micro-captives are not included in this year's Internal Revenue Service (IRS) "Dirty Dozen" list of "tax scams," though an IRS statement suggests the agency will continue monitoring the small captive insurance companies. It is the first time in 5 years that the IRS did not include micro-captives on its annual list. Read More

Regulators Expect COVID-19 To Prompt Pandemic Coverages in Captives

July 1, 2020

Captive insurance companies may serve as valuable tools for many organizations addressing pandemic-related risks in the wake of COVID-19, but regulators will closely scrutinize captives' pandemic coverage plans. Policy language, triggering events, coverage details, and reinsurance will be key considerations. Read More

NAIC Report Details State Insurance Regulatory Response to COVID-19

June 23, 2020

The National Association of Insurance Commissioners (NAIC) has released its first update on the state insurance regulatory response to COVID-19, noting the pandemic's impact on the NAIC's 2020 regulatory and operational priorities. The report says that state insurance regulators and the NAIC have been closely monitoring insurers' financial health. Read More

Captive Regulation Largely Business as Usual during Pandemic

June 8, 2020

Experiences shared by a panel of captive insurance regulators suggest that while some things might have been done differently, captive regulation largely continued in a business-as-usual fashion during the COVID-19 pandemic. The regulators spoke in a webinar sponsored by the International Center for Captive Insurance Education. Read More

Guernsey Reopening after More Than 2 Months in COVID-19 Lockdown

June 2, 2020

Guernsey's financial services sector is emerging from its COVID-19 lockdown. The island, a leading domicile for captive insurance, alternative investment funds, and private wealth, went into lockdown on March 24 to help control the spread of the disease. There are currently no known active COVID-19 cases in the island. Read More