News

Law & regulation

The small state with big plans for captives

Connecticut is a relative newcomer to the increasingly competitive world of captive insurance regulation, but has quickly earned a reputation as an attractive domicile. As pressure increases on offshore captives to bring business back onshore, the state hopes to capture a lot of new business. Captive International reports.   6 May 2020

Law & regulation

Supreme Court will hear CIC Services’ case against IRS over application of Anti Injunction Act

The Supreme Court of the US has agreed to hear CIC Services’ case against the Internal Revenue Service (IRS), in what CIC described as “a major victory today for taxpayers and those opposing administrative state overreach.”   5 May 2020

Law & regulation

Bermuda opens economic substance declaration portal

The Bermuda Registrar of Companies’ online portal (ESD portal) for filing economic substance declarations is now open.   4 May 2020

Accounting & tax analysis

IRS hostility to captives is exacerbating impact of COVID-19 on business: CIC Services

The IRS’ targeting of captive insurance companies has left companies more vulnerable to the economic ravages of COVID-19, according to CIC Services.   23 April 2020

Law & regulation

TDCI relaxes rules to help captives cope with the COVID crisis

The Tennessee Department of Commerce and Insurance (TDCI) has relaxed rules requiring applicants for new captive insurance companies meet the TDCI in person, given the travel restrictions that have been imposed due to COVID-19.   21 April 2020

Law & regulation

NRRA announces annual conference in September, creates COVID task force

The National Risk Retention Association (NRRA) will hold its 2020 National Conference on September 29 - October 1 at the Sofitel Magnificent Mile Hotel in Chicago.   20 April 2020

Law & regulation

SIIA to host webinar to discuss regulatory implications of COVID-19

The Self Insurance Institute of America will host a webinar on April 17 at 1pm Eastern to provide legal and regulatory clarity in light of the impact of COVID-19.   15 April 2020

Law & regulation

BMA confirms eight new re/insurance registrations in March

Eight new re/insurance vehicles were registered with the Bermuda Monetary Authority (BMA) in March, taking the total number of registrations so far this year to ten.   15 April 2020

Law & regulation

Labuan FSA eases rules to allow businesses to focus on COVID-19 response

The Labuan Financial Services Authority (LFSA) has granted temporary regulatory reliefs (TRRs) for Labuan entities to cushion the impact and disruption to business operations caused by the COVID-19 pandemic.   14 April 2020

Law & regulation

Kirkland & Ellis hires Parimah Hassouri as it builds up insurance business

Kirkland & Ellis has hired Parimah Hassouri as a partner in the corporate practice group in New York.   27 March 2020

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