The Tennessee Department of Commerce & Insurance has licensed its 200th captive insurance company.
The Self-Insurance Institute of America (SIIA) has hit out at Internal Revenue Service, accusing it of misleading people in its recent announcement about rooting out tax evasion in the micro captive sector.
The IRS is establishing 12 new examination teams as it steps up its efforts to pursue abusive micro-captive insurance transactions.
CIC Services has filed a lawsuit against a former client, SRM Group, as well as its owner, Suresh Prabhu, and two related captives CIC formerly managed.
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.
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).
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.
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 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.
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.