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Cannasure eyes expansion with product development hire

North America24-01-2020

Cannasure Insurance Services, an insurance MGA and wholesale broker for the cannabis and hemp industries, has hired Summer Jenkins as senior product development manager.

CIC petitions US Supreme Court over IRS Notice 2016-66

North America23-01-2020

CIC Services, a Tennessee-based captive manager, has petitioned the Supreme Court of the United States to hear its lawsuit against the IRS regarding IRS Notice 2016-66. 

Cowbell Cyber unveils AI-based cyber platform for small businesses

North America23-01-2020

Cowbell Cyber, a startup that uses artificial intelligence to deliver cyber insurance to small to mid-sized businesses, has launched Cowbell Prime 100, allowing insurance agents to issue bespoke cyber policies with limits of up to $5 million. 

Fiji considers allowing captive insurance frameworks


Fiji is considering allowing captive insurance frameworks to operate in its market, according to Ariff Ali, the governor of the Reserve Bank of Fiji (RBF). 

Amice calls for proportionate application of Solvency II for smaller insurers


The Association of Mutual Insurers and Insurance Cooperatives in Europe (Amice) has called for more effective use of proportionality in the application of Solvency II rules. 

IRS confirms CFSIC payments not considered income

North America28-11-2019

The Internal Revenue Service (IRS) has confirmed that the Connecticut Foundation Solutions Indemnity Company (CFSIC) is not required to issue federal tax form 1099s, used to declare miscellaneous income, to homeowners it has assisted in repairing their crumbling foundations. 

Bahamas-based captive banned from doing business in Washington

North America26-11-2019

The insurance commissioner for the State of Washington has issued a cease and desist order to 2A Insurance, a captive insurance company, preventing it from engaging in any insurance-related activities in the state.

CIC vows to take IRS battle to the Supreme Court

North America03-09-2019

CIC Services has warned the Internal Revenue Service that its battle against the tax authority’s “abuse of law-abiding taxpayers is not over,” vowing to take its case all the way to the Supreme Court. 

US Court of Appeals declines to review CIC case against IRS

North America30-08-2019

The US Court of Appeals for the Sixth Circuit has declined to review the case of CIC Services versus the Internal Revenue Service (IRS), which was found in favour of the IRS in 2017.

Economic substance regulation could spell trouble for offshore captives

Bermuda, Cayman and Caribbean29-08-2019

Economic substance regulation enacted to appease the EU is undermining the business case for offshore captives, according to Mark Chudleigh, a partner at Kennedys in Bermuda.

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Captive International