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Alberta Captives Act comes into law
First captives are likely to be formed next year.
Munich Reinsurance asks court to dismiss Veritas claims
US reinsurer says it’s not liable for settlement following University of Michigan sexual misconduct payout.
Collas Crill expands its dispute resolution practice in Cayman with five litigation attorneys
Collas Crill has hired five litigation attorneys in Cayman as it expands its dispute resolution practice.
CIC Services seeks injunction against IRS Notice enforcement
Captive manager CIC Services has again asked a Tennessee court for injunctive relief to prohibit the Internal Revenue Service (IRS) from enforcing CIC’s compliance with Notice 2016-66.
Delaware signs captives bill with improved dormancy rules
John Carney, the governor of Delaware, has signed into law a new captive insurance bill that enhances the flexibility of the state’s offering to captive insurance companies.
IRS will not stop the assault on micro-captives
A setback for the IRS at the US Supreme Court is not going to stop it from going after micro-captives, warns Lance Wallach, who offers consultancy services to captive insurers, fights the IRS and has never lost a case as an expert witness.
Vermont captive insurance division receives five-year NAIC accreditation
The Vermont Department of Financial Regulation’s captive insurance division has received another five-year accreditation from the National Association of Insurance Commissioners (NAIC).
Missouri names captive manager to reinvigorate state captive programme
The Missouri Department of Commerce & Insurance (DCI) has hired a new captive manager to develop and implement strategies to enhance its captive insurance offering.
Malta added to FATF grey list
The Financial Action Task Force (FATF), the global money laundering and terrorist financing watchdog, has added Malta to its so-called grey list of countries under increased monitoring.
State of Connecticut pledges another $100m to CFSIC to tackle crumbling foundations
The State of Connecticut has provided another $100 million of financing to the Connecticut Foundation Solutions Indemnity Company (CFSIC), the captive insurance company established to protect homeowners suffering from crumbling foundations due to the iron sulfide mineral pyrrhotite.
