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South Africa’s FSCA proposes new rules for cell captives
South Africa’s Financial Sector Conduct Authority (FSCA) has published a revised draft of its conduct standard outlining the requirements relating to third party cell captive insurance business.
More than 20 captives bodies file key brief in IRS CIC vs IRS Supreme Court case
It relates to Notice 2016-66 that forces some captives owners to report tax details to the IRS.
Blow for 831(b)s as tax court confirms IRS will seek 40% penalties
While the penalty is lower in the Oropeza case, this is an exception.
More detail emerges on captive coalition’s amicus brief filed in CIC case
It addresses specific concerns the captive insurance industry has around recent actions by the IRS.
Guernsey insurance industry signs up to UN Principles for Sustainable Insurance initiative
The Guernsey International Insurance Association (GIIA) has signed up to the United Nations’ Principles for Sustainable Insurance (PSI) initiative, as part of its commitment to the development of green and sustainable finance.
TDCI names Belinda Fortman as captive insurance section director
The Tennessee Department of Commerce and Insurance (TDCI) has named Belinda Fortman as its new captive insurance section director.
Guernsey simplifies MGA application process
The Guernsey Financial Services Commission (GFSC) has simplified the application process for managing general agents (MGA) wanting to operate in Guernsey.
Vermont governor signs new captive legislation focused on protected cells
Vermont Governor Phil Scott has signed new legislation that strengthens the state's captive insurance laws.
US introduces PRIA bill to ensure future provision of pandemic coverage
The US has introduced the Pandemic Risk Insurance Act of 2020 to create a government-backstopped pandemic risk reinsurance programme (PRRP).
Triple-I launches FAIR campaign to advocate for re/insurance industry
The Insurance Information Institute (Triple-I) has launched the Future of American Insurance & Reinsurance (FAIR) campaign to defend the re/insurance industry’s ability to manage risk on behalf of its clients.
