News

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CICA conference addresses widening captive talent crisis

The insurance industry is facing a talent crisis, and this is especially true for the captives market. Captive International reported live from the Captive Insurance Companies Association annual conference, which has increased its efforts towards spreading awareness and closing the talent gap.   15 March 2019

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Bodies including captives association back Bermuda to escape EU tax blacklist

Industry groups on Bermuda including the Bermuda Insurance Management Association (BIMA) have pledged their support to efforts by the Bermuda government to get the country removed from the European Union’s so-called blacklist list of "non-cooperative" jurisdictions as quickly as possible.   14 March 2019

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Bermuda blacklisted by EU because of human error

David Burt, the Premier of Bermuda, has accepted responsibility for what appears to have been a case of human error when draft regulations were being edited that resulted in the country being blacklisted by the European Union.   14 March 2019

Law & regulation

IMAC welcomes EU report which omits Cayman from tax blacklist

The Insurance Managers Association of Cayman (IMAC) has welcomed the European Union (EU) report on non-cooperative tax jurisdictions, which does not feature the Cayman Islands.   14 March 2019

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Captives in the modern world: Q&A with VCM’s Matthew Queen

​Most literature on the captives sector overemphasises the role of tax-efficient 831(b) captives, but this represents only a small slice of what a captive insurance programme can do, according to Matthew Queen, general counsel at Venture Captive Management.   13 March 2019

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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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