News
Accounting & tax analysis
Moody’s Corporation, the holding company for rating agency Moody’s Investors Service, is facing allegations from a former employee who has claimed that Moody’s and its advisors defrauded New York State of potentially millions of dollars of tax revenues, with it’s captive Moody’s Assurance Company (MAC) accused of underpaying the state. 17 September 2018
Analysis
Vermont’s recently introduced captive structures, affiliated reinsurance companies (ARCs), will likely enhance the domicile’s standing in the captive industry, according to an AM Best briefing. 8 September 2018
Analysis
Slow and steady growth has served the state of Hawaii well and continues to be one of the reasons it is consistently on the list of top domiciles for captives, says Paul Shimomoto of the Hawaii Captive Insurance Council. 4 September 2018
Analysis
Utah has become a leading domicile for captives on the back of technical innovation and affordability. Travis Wegkamp, captive director, Utah Insurance Department, outlines what has been achieved so far— and the opportunities that lie ahead. 4 September 2018
Analysis
On May 18, 2018, South Carolina governor Henry McMaster signed into law H. 4675, a package of amendments to the domicile’s captives legislation, which was first enacted in 2000. Jay Branum, director of captives in the South Carolina Department of Insurance, explains the background and the effects to US Captive. 4 September 2018
Accounting & tax analysis
Don’t heed the ‘Chicken Littles’: the outcomes of recent court cases should not hurt the legitimate wing of risk pools, says Nate Reznicek of CIC Services. 4 September 2018
Analysis
A regulatory enforcement action has raised the spectre of how and whether captives may be subject to unexpected premium tax liabilities in states outside their domicile. Joseph Holahan of law firm Morris, Manning & Martin explores the issue. 28 August 2018
Accounting & tax analysis
The captives world is processing the implications of two high-profile court cases involving captives. Here, John Talley, captive program manager in the Missouri Department of Insurance, gives his perspective on what the cases mean for regulators. 28 August 2018
Analysis
Illinois governor Bruce Rauner has vetoed legislation that would overhaul the Illinois Insurance code and update its captive insurance law to be more attractive to companies that use captives. 28 August 2018
Analysis
Insurance intermediates do not have an equivalence framework in place to allow for business continuity after the UK leaves the European Union, wrote Roy White, chairman of the London & International Insurance Brokers’ Association (LIIBA), in a letter to UK prime minister Theresa May. 24 August 2018
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