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Policyholders in Tennessee take comfort as TDCI wins NAIC accreditation
The Tennessee Department of Commerce and Insurance (TDCI) has received accreditation from the National Association of Insurance Commissioners (NAIC).
Labuan IBFC signs MoU with Qatar to facilitate mutual recognition of financial entities
Labuan International Business and Financial Centre (Labuan IBFC) has signed a Memorandum of Understanding (MoU) with the Qatar Financial Centre Authority (QFC) in an agreement designed to strengthen financial ties between the two centres.
BMA authorises a class three multi owner captive in March
The Bermuda Monetary Authority (BMA) confirmed the registration of DNA Genetics Insurance with a class two license in March 2021, allowing it to operate as a multi owner captive.
IRS warns micro captive owners to get out of them as soon as possible
Participants in abusive micro-captive insurance arrangements should exit these transactions as soon as possible, Internal Revenue Service (IRS) officials have warned.
Dentons hires partner with captives experience in New York
Dentons, the law firm, has named Nick Williams as partner in the corporate practice.
Davies appoints CEO of Keoghs, its legal services unit, as Whittle steps down
Davies, the specialist professional services and technology business serving the insurance industry, has promoted Allison Carr to the role of chief executive officer (CEO) of Keoghs, its legal solutions business.
Washington state establishes framework requiring captives to pay premium taxes
The Washington State government has established a framework for registering and imposing premium tax on eligible captive insurance companies.
831(b)s dealt fresh blow as US tax court rules Caylor captive not insurance
The 831(b) or micro-captive industry has been dealt a fresh blow this week, with a US tax court ruling yet another micro-captive could not be considered insurance for Federal tax purposes.
SCCIA reminds members not to travel for board meetings
The South Carolina Captive Insurance Association (SCCIA) has reminded its members that the South Carolina Department of Insurance (SCDOI) neither encourages nor requires captive owners or board members to visit the state for board meetings in 2021.
Alabama legislature considers “Herculean” captive bill
Alabama’s state legislature is examining a captive bill that will expand the state’s offering of alternative investment vehicles with three new categories of captives, for agency captives, reinsurance captives and special purpose finance captives.