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Incubators of innovation
Captive insurance companies have played an integral role in bringing ERM to the middle market, and enterprise risk captives have been hotbeds of innovation, finding new ways to price unusual risks, says Andrew Rennick of Womble Bond Dickinson.
The uncertain future of 831(b)s
The Syzygy opinion marks the third significant microcaptive loss in the US Tax Court, and prominent captive managers have come under fire for allegedly designing and selling sham 831(b) captives. What does this mean for their future? US Captive investigates.
Pilot v Commissioner: key questions raised and left unanswered
Just 10 days before the scheduled trial in the US Tax Court, the taxpayers conceded the remaining issues in Pilot Series of Fortress Insurance et al v Commissioner. The pretrial pleadings highlighted many of the key questions that remain open in litigation over the tax treatment of captive insurance transactions. Those questions—and the parties’ efforts to answer them—provide a roadmap of what to expect as additional cases move toward trial. Jenny Johnson Ware, founding partner of tax litigation boutique Johnson Moore, analyses those key questions and what we can learn from them—despite the fact that the Tax Court will not be providing any answers.
Domiciles: business friendly or tax focused? How to prepare your captive
Could high-profile settlements with the State of Washington lead to more captive domiciles following a similar path? Or will they adopt a more pro-business stance, like North Carolina? Pete Kranz, executive managing director and captive practice leader of Beecher Carlson, provides some key considerations on where to domicile a captive.
BEPS and substance requirements: Hugh’s views
Guernsey has satisfied the much-debated OECD BEPS substance requirements for captives operating there. Industry veteran and retired principal of Towers Watson, Hugh Rosenbaum, shares his views.
Economic substance and Bermuda’s insurance industry
Bermuda’s insurers—and, by extension, captive insurers—have until July 1 to satisfy the government’s new economic substance requirements, which have a considerably broad scope. Janine Carey, associate at Appleby, has the details.
831(b) ‘conspiracy’ bigger than Artex and Gallagher: LFDS lawyer
The Arizona-based lawsuit Shivkov v Artex Risk Solutions is being followed with great interest by the captive insurance industry, perhaps with good reason. One of the lead lawyers involved in the case now claims the alleged conspiracy is larger than it seems. He explained why to Captive International.
Five reasons missing the cannabis insurance train will kill captive managers
With the cannabis industry expected to generate over $20 billion in US sales in 2021 and only a handful of insurers active in this space, there is a prime opportunity for captive insurers to step in. An inherent conflict at a federal level scares away many captive managers, but those not willing to act might get left behind. Matthew Queen, chief compliance officer and general counsel of Venture Captive Management, has the details.
Regulations steering Bermuda captives ahead of the competition
Regulatory changes scheduled to be tabled before the Bermuda House of Assembly place Bermuda on a steady yet progressive footing to steer the captive market forward for years to come, says Matthew Carr, senior associate, corporate, of Appleby's Bermuda office.
Shivkov v Artex and more 831(b) blues
Captive managers and promoters including Gallagher and Artex have come under fire for allegedly conspiring to sell and manage illegal tax shelter captive insurance strategies. Matthew Queen, general counsel & chief compliance officer at Venture Captive Management, provides some insight into the lawsuit.
