News

Accounting & tax analysis

Blow for 831(b)s as tax court confirms IRS will seek 40% penalties

While the penalty is lower in the Oropeza case, this is an exception.   24 July 2020

Accounting & tax analysis

More detail emerges on captive coalition’s amicus brief filed in CIC case

It addresses specific concerns the captive insurance industry has around recent actions by the IRS.   24 July 2020

Law & regulation

Captives find a home in The Bahamas

As a jurisdiction The Bahamas offers unique advantages when it comes to providing a home for small, private captives: a well-regulated insurance sector and a collaborative public-private sector approach, says Tanya McCartney of the Bahamas Financial Services Board.   17 July 2020

Law & regulation

Guernsey insurance industry signs up to UN Principles for Sustainable Insurance initiative

The Guernsey International Insurance Association (GIIA) has signed up to the United Nations’ Principles for Sustainable Insurance (PSI) initiative, as part of its commitment to the development of green and sustainable finance.   25 June 2020

Law & regulation

TDCI names Belinda Fortman as captive insurance section director

The Tennessee Department of Commerce and Insurance (TDCI) has named Belinda Fortman as its new captive insurance section director.   24 June 2020

Law & regulation

Guernsey simplifies MGA application process

The Guernsey Financial Services Commission (GFSC) has simplified the application process for managing general agents (MGA) wanting to operate in Guernsey.   17 June 2020

Law & regulation

Vermont governor signs new captive legislation focused on protected cells

Vermont Governor Phil Scott has signed new legislation that strengthens the state's captive insurance laws.   16 June 2020

Law & regulation

Managing captives amid rising social inflation

Social inflation is on the rise, and with it, loss liability claims. Captives should be aware of this trend and establish strategies to manage the resulting risks, say John Ferrara and Margo Mackenzie of EY.   5 June 2020

Law & regulation

US introduces PRIA bill to ensure future provision of pandemic coverage

The US has introduced the Pandemic Risk Insurance Act of 2020 to create a government-backstopped pandemic risk reinsurance programme (PRRP).   1 June 2020

Law & regulation

Triple-I launches FAIR campaign to advocate for re/insurance industry

The Insurance Information Institute (Triple-I) has launched the Future of American Insurance & Reinsurance (FAIR) campaign to defend the re/insurance industry’s ability to manage risk on behalf of its clients.   20 May 2020

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