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GAO report on abusive tax schemes perpetuates misunderstandings of captives

North America14-09-2020

A GAO report was intended to shed some light the use of captives as abusive tax shelters. Instead it only risks perpetuating misunderstandings, says Bradley’s Davis Smith.

The lack of consistency in reporting standards and how this may hurt captives

North America24-07-2020Captive

There is very little consistency between countries when it comes to insurance tax reporting, and captives managers need to stay across the nuances to avoid trouble. Daniela Dinkova of Sovos explores some of the differences.

Preparing captive owners for new accounting legislation


IFRS 17 is the first international accounting standard for insurers. It represents a huge change for captive insurance companies, which will need to be well prepared to comply with the new rules, says Alex Gedge of Marsh.

How captives can help fill pandemic coverage gaps

North America15-05-2020Captive

An increasing number of captives have been looking at writing business interruption coverage for their owners. They should tread carefully, as doing so without following the correct procedures could have adverse tax implications, says Davis Smith of Bradley.

COVID-19: the captive insurance fight-back begins

North America28-04-2020Captive

The captive industry has been cowed by the IRS for years, with the tax collector securing a string of legal victories that left businesses wondering whether having a captive was worth the effort. However, the COVID-19 pandemic has shattered the logic on which those cases were won, and will lead to a resurgence among 831(b)s, predicts Matthew Queen.

Time to exit your 831(b) captive?

North America27-03-2020Captive

Owners of 831(b) tax-elected captives, and their advisors, have watched with alarm as the 30-year old 831(b) tax election has come under mounting scrutiny. These concerns flared up again with the recent circulation of intimidating letters from the IRS. Owners of 831(b)s have a decision to make about whether they persist with their current arrangements, says Captive Alternative’s Emilie Gastley.

Changes to the auditor’s report: what you need to know

North America18-03-2020Captive

The American Institute of Certified Public Accountants has issued Statement on Auditing Standards (SAS) 134, Auditor Reporting and Amendments, Including Amendments Addressing Disclosures in the Audit of Financial Statements. Lauren Williams of Johnson Lambert explains what it means for you.

NAIC RRG task force makes progress

North America06-03-2020

In late 2018 the National Risk Retention Association, frustrated by difficulties its members experienced when registering to do business in several non-domiciliary states, petitioned the National Association of Insurance Commissioners for assistance. Jon Harkavy of Risk Services examines the current state of play.

Fighting to remain relevant

North America10-01-2020Captive

STICO, the risk retention group for the US storage tank industry, was a huge success in its early years, providing members with insurance coverage that the commercial market was unwilling or unable to provide. In recent years life has been more challenging, as commercial providers have attempted to win back its members as customers, but now it is fighting back, says STICO’s Colin Donovan.

Three reasons to create a captive

North America09-01-2020Captive

Establishing a captive programme can seem a daunting prospect, but there are many reasons for companies to make the effort. Steven Lorady of Carr, Riggs & Ingram discusses three of them.

Showing 1 to 10 of 73 results

Captive International