News
Law & regulation
The Captive Insurance Companies Association (CICA), the Vermont Captive Insurance Association (VCIA) and the Captive Insurance Council of the District of Columbia (CICDC) have urged the US Treasury Department to maintain captives’ access to the Terrorism Risk Insurance Program (TRIP). 12 January 2021
Law & regulation
The Cayman Islands Monetary Authority (CIMA) has revoked the licence of CTS Captive Management for breaching the terms of the Insurance Act 2010. 11 January 2021
Law & regulation
Mike Causey took the oath of office for his second term as North Carolina’s Insurance Commissioner on January 9, 2021. 11 January 2021
Law & regulation
A bill has been presented in Alabama that will update the Alabama Captive Insurers Act to provide greater economic growth and development for the state’s captive insurance industry. 6 January 2021
Law & regulation
Kovrr, a cyber risk modeling company, has completed its service organisation control (SOC) 2 type II certification, demonstrating its ability to implement and execute strict security policies to protect customers data. 9 December 2020
Law & regulation
The Guernsey Financial Services Commission (GFSC) has introduced a pilot scheme for pre-authorisation for insurance cells. 4 December 2020
Law & regulation
HM Government of Gibraltar has introduced amendments to its insurance legislation to permit Gibraltar licensed insurance intermediaries to appoint an insurance manager. 30 November 2020
Law & regulation
Mexico’s use of captives is increasing despite the lack of specific captive insurance legislation, and new laws may be not far off, say Thomas Morante and Yani Contreras of Carlton Fields. 17 November 2020
Law & regulation
The US Department of the Treasury is seeking comment from the industry regarding the way captive insurance companies are treated by the Terrorism Risk Insurance Program (TRIP), required by the Terrorism Risk Insurance Program Reauthorization Act of 2019. 11 November 2020
Law & regulation
Michael Pieciak, the commissioner of the Vermont Department of Financial Regulation, has filed a suit against Global Century Insurance Brokers (GCIB) and Quantibridge Capital, as well as individuals Jasbir Thandi and Jaspreet Singh Padda, for allegedly participating in a scheme to defraud Global Hawk Insurance Company Risk Retention Group. 3 November 2020
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