News

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Extra-domicile tax post-Microsoft poses challenges for captive industry

Self-procurement taxes are by no means a new thing, but there may be a lot more attention in the captive insurance industry due to aggressive enforcement actions, most notably involving Washington State and Microsoft’s captive, Cypress Insurance Company.   13 March 2019

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Captives can still benefit Association Health Plans despite DOL final rule

Association Health Plans (AHPs) have been of significant interest to the captive insurance industry but have not taken off due to the US Department of Labour’s final rule disincentivising their use due to conflicts at a state and federal level.   13 March 2019

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Reintroduction of SAFE Banking Act may open doors for cannabis captives

The Secure and Fair Enforcement Banking Act (SAFE Banking Act), which was recently reintroduced in US Congress in March, may eliminate barriers at a federal level and create new opportunities for the captive insurance industry, specifically in relation to managing risks associated with the cannabis industry.   13 March 2019

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Butler University student-run captive mulls taking on third-party risk

Butler University, the university known for setting up the world’s first student-run captive, has said that the captive will look at expanding its coverage over the next few years, and has third party coverage in the pipeline, professor Kevin Thompson told Captive International.   13 March 2019

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CICA panel challenges conventional wisdom on price and cannabis

Captives are commonly accepted to be cheaper than the commercial insurance market, to be the best way to stabilise premiums through hard and soft markets, and to be the best place to handle cannabis risks - but is this accurate?   12 March 2019

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Captives miss out on interns because of knowledge gap

There is little crossover between academia and the insurance industry, which is especially true for the lesser known captive industry, and more work should be done to make students “industry ready”.   12 March 2019

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European captive sector remains healthy, says panel at CICA

Although there has been a slight dip in captive numbers across Europe, this is not an accurate reflection of the health of the industry, which has shown signs of growth despite contending with issues surrounding Solvency II, BEPS, direct fronting and Brexit.   12 March 2019

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CICA board chair steps down

Board chair of the Captive Insurance Companies Association (CICA), Joel Chansky, will be stepping down from his position as his term ends on Wednesday, March 13, 2019.   12 March 2019

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CICA presents annual awards to Johnson Lambert partner Bowers and ACIG

The Captive Insurance Companies Association (CICA) has presented its distinguished service award to Gary Bowers, tax partner at Johnson Lambert and Co, and its outstanding captive award to American Contractors Insurance Group (ACIG).   12 March 2019

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White Rock extends protected cell concept to District of Columbia

White Rock, the Aon-owned company that launched the first protected cell company in Guernsey in 1997, has expanded the concept to a seventh domicile in the District of Columbia, US.   11 March 2019

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