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Cannabis and captives
Actuarial & underwriting
Captives can offer flexibility in managing the emerging risks faced by cannabis companies, offering insurance where the market is limited or has excluded certain coverages, says Alexandra Gedge of Marsh Captive Solutions.   31 March 2020
Customer service is key for captives
Actuarial & underwriting
Captives have a natural advantage over commercial insurance companies due to the intimacy of their relationship with their client and owner. But they should never take that relationship for granted, and should prioritise customer service and communication the way a business would with any other customer, says Anders Esbjörnsson of NCC Insurance.   30 March 2020
EMEA analysis
The French Prudential Supervision and Resolution Authority has approved a reinsurance captive in France, for the first time in nearly 20 years.   30 March 2020
Law & regulation
Kirkland & Ellis has hired Parimah Hassouri as a partner in the corporate practice group in New York.   27 March 2020
Accounting & tax analysis
Owners of 831(b) tax-elected captives, and their advisors, have watched with alarm as the 30-year old 831(b) tax election has come under mounting scrutiny. These concerns flared up again with the recent circulation of intimidating letters from the IRS. Owners of 831(b)s have a decision to make about whether they persist with their current arrangements, says Captive Alternative’s Emilie Gastley.   27 March 2020
Law & regulation
With the EU adding Bermuda to its “white list” of fully cooperative tax jurisdictions, the outlook looks bright for Bermuda’s captive insurance industry in 2020, says Nick Miles of Kennedys.   26 March 2020
Services
Willis Re, the reinsurance business of Willis Towers Watson, has named Dan Melanson as senior vice president and health practice leader.   26 March 2020
Services
The Bermuda Captive Conference (BCC) has been rescheduled to September 9-11, 2020, after the organising committee took the decision that the event could not go ahead as planned in June.   26 March 2020
Accounting & tax analysis
The IRS is spreading fear, uncertainty and doubt about the captive industry in an effort to increase its own revenues, according to Sean King, principal of CIC Services.   25 March 2020

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