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Vermont Governor Phil Scott has signed new legislation passed in the 2017 session which aims to strengthen the domicile’s status by including agency captives to the portfolio of captive types allowed to operate in the State. 3 May 2017
Analysis
The Vermont Captive Insurance Association (VCIA) has announced that it’s holding a webinar on the implementation of governance standards on May 11. 2 May 2017
Analysis
The Bermuda Captive Conference capitalised on the recent Risk & Insurance Management Society (RIMS) Annual Conference and Exhibition in Philadelphia to build interest and boost registrations leading towards its September 11-13 event. 2 May 2017
Accounting & tax analysis
The US District Court for the Eastern District of Tennessee has denied the request of captive managers and consulting firms CIC Services and Ryan to seek injunctive relief from Notice 2016-66. 28 April 2017
Analysis
Citadel Risk has established a new cell captive company in Tennessee. 27 April 2017
Analysis
York Risk Services Group, a provider of alternative risk programmes, pool administration and other insurance services, has appointed Patrick Walsh as executive vice president and chief claims officer. 26 April 2017
Actuarial & underwriting
In the first of a series of articles for Captive International captive consultant and retired principal of WTW Hugh Rosenbaum explores the mechanics of setting up a group captive and why it might be a good option for insurance buyers. 26 April 2017
Analysis
AM Best has affirmed the Financial Strength Rating of A (Excellent) of Isle of Man-based National Grid Insurance Company (NGICL), the captive of British multinational electricity and gas utility company National Grid. 24 April 2017
Analysis
The Bermuda Monetary Authority (BMA) has granted licensing approval to students from Indianapolis-based Butler University’s Lacy School of Business to create a captive insurance company in Bermuda. 24 April 2017
Accounting & tax analysis
Recommendations from the OECD have reversed the burden of proof on the legitimacy of captives, referring to them as potential vehicles for tax avoidance. Captive International speaks with Fabrice Frère, managing director at Aon Risk Solutions, about the onerous task of preparing for a potential BEPS audit which now falls upon captive owners. 24 April 2017
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