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Roundstone group captive clients receive healthy rebate
Roundstone, a US provider of self-funded group captive health insurance, recently distributed over $5m to US business owners currently enrolled in one of its group medical captives.
IRS intended to use undercover tapes in Artex microcaptive case
The Internal Revenue Service (IRS) had planned to use tape recordings of an undercover agent looking to form an 831(b) captive with Tribeca Strategic Advisors - now part of Artex Risk Solutions - in order to support its argument that a captive in a recent lawsuit lacked economic substance.
NCCIA adds three captive specialists to board
The North Carolina Captive Insurance Association has named three new members to its board of directors.
NCDOI captive financial analyst joins Atlas
Captive manager Atlas Insurance Management has appointed Spencer Caldwell, former captive financial analyst for the North Carolina Department of Insurance, as an account manager.
Waste Management Vermont captive NGIC gets Excellent rating
Ratings agency AM Best has affirmed the financial strength rating of A- (Excellent) of National Guaranty Insurance Company of Vermont (NGIC), a captive insurance company owned by Waste Management.
Number of captives accessing TRIPRA increased 10% in 2018
The number of captives managed by Marsh actively underwriting one or more insurance programmes that access the Terrorism Risk Insurance Program Reauthorization Act (TRIPRA) increased 10 percent to 182 in 2018.
First crumbling foundation repaired with help of Connecticut captive
The first Connecticut home with a crumbling foundation due to pyrrhotite has been repaired, thanks to funding from a captive insurance company set up by the Connecticut General Assembly in 2017.
Captives could face rating downgrades amid TRIPRA uncertainty
The Terrorism Risk Insurance Program Reauthorization Act (TRIPRA) is due to expire on December 31, 2020, but further extensions are uncertain, raising the potential for property/casualty insurers - and by extension captives - to face rating downgrades due to over-reliance on the programme, according to AM Best.
Stanford Health Care captive ratings withdrawn following downgrade
Stanford Health Care has requested to withdraw the financial strength ratings of its Bermuda captive, SUMIT Insurance Company following a downgrade from AM Best.
North Carolina’s captive premium tax holiday legislation delayed
North Carolina’s proposed legislation amendment that would temporarily exempt captive insurers redomesticating to the state from premium taxes - also known as the ‘premium tax holiday’ - has been delayed.
