Regulation and Oversight
CIC Services Urges Congress To Overturn IRS Captive Insurance Rule
CIC Services is calling on Congress to review an Internal Revenue Service (IRS) rule that imposes new restrictions on small captive insurance companies. The firm warns the regulation could limit risk management options for businesses and urges lawmakers to act under the Congressional Review Act to overturn it before the window for legislative action closes. Read More
Understanding Micro-Captive Insurance Reporting Obligations
The Internal Revenue Service requires captives, insureds, and advisers involved in micro-captive insurance to disclose transactions through Forms 8886 and 8918. Reporting obligations focus on loss ratios, related-party financing, and compliance measures. Failure to comply may result in penalties, making proper disclosure essential for regulatory adherence. Read More
The Debate Over Captive Manager Licensing: Raising Standards or Adding Burden?
Captive manager licensing remains a debated topic in the industry. Experts discuss regulatory oversight, National Association of Insurance Commissioners model laws, and International Center for Captive Insurance Education credentialing, weighing the benefits of standardization against potential regulatory burdens. Stakeholders remain divided on whether licensing enhances professionalism or adds unnecessary costs. Captive managers, regulators, and captive owners all have vested interests in the outcome. Read More
Washington Seeks To Expand Captive Insurance Access for Public Utility Districts
Washington House Bill 1842 proposes allowing public utility districts (PUDs) to form captive insurers for improved risk management. The bill has passed committee review and awaits further legislative action. If enacted, it could provide PUDs with a cost-effective alternative to traditional insurance. Captive.com will monitor ongoing developments. Read More
Governor Kemp Proposes Tort Reform To Address Insurance Costs in Georgia
Georgia's tort reform proposal seeks to revise liability standards, regulate litigation funding, and stabilize insurance costs. The plan, backed by state leaders, aims to create a fairer legal system while maintaining business competitiveness. Lawmakers and industry stakeholders are closely monitoring its potential impact on insurers and the broader economy. Read More