The US Internal Revenue Service (IRS) has added microcaptives to its Dirty Dozen list of common scams that it claims that US taxpayers may encounter.
Michigan State University (MSU) had set up a captive insurance company following its former primary insurer, United Educators, introducing “onerous” new terms after allegedly failing to provide general liability insurance coverage for lawsuits and claims arising from the Larry Nassar sex abuse scandal.
North Carolina has introduced a new bill aimed at attracting redomestications of captive insurance companies back to the state through a "premium tax holiday".
AM Best has given US-based Nuclear Electric Insurance Limited (NEIL) a financial strength rating of A based on the insurer’s strong balance sheet, marginal operating performance, favorable business profile and enterprise risk management.
Insurance broker Marsh has appointed Robert Bauer to lead its US sharing economy and mobility practice.
Ride-sharing company Lyft has outlined details of its wholly-owned captive insurance subsidiary in an SEC filing.
The energy sector has seen an increased use of captive insurance over the last 5 years, as it continues to be a key part of companies' risk management strategies, according to an Aon report.
US District of Columbia mayor Muriel Bowser has recently established a council charged with studying and reporting on the feasibility of implementing a financial services regulatory sandbox in Washington DC.
Pinnacle Actuarial Resources has promoted Aaron Hillebrandt to director and consulting actuary and Christopher Cortner to consulting actuary.
Accounting and consulting firm Bauknight Pietras & Stormer (BPS) has appointed Ben Glenn to the firm's leadership team as a shareholder.