2 June 2016USA analysis

Capstone becomes approved captive manager in Texas

Capstone Associated Services has been approved as a captive manager by the Texas Department of Insurance. This is the 8th jurisdiction where Capstone is licensed.

According to Capstone, recent legislative developments such as allowing captive insurers to pool risk with other captive insurers has made Texas more captive-friendly for mid-market businesses.

In affiliation with The Feldman Law Firm, Capstone said it has championed a successful turnkey approach to captive insurance planning, which includes leveraging the expertise of tax and corporate lawyers, certified public accountants (CPAs), and insurance professionals.

The initial design and implementation of captives involves anticipating changes in laws that may affect captive owners or their affiliated businesses. Additionally, Team Capstone monitors domiciles (onshore or offshore) to identify those that best align with the varying needs of their clients.

Stewart Feldman, chief executive officer and general counsel for Capstone, said: “Texas has not traditionally been a recognized captive domicile. Only in 2013 did Texas enact any captive legislation. As a result, Texas has a mere 29 licensed captives, with most captives affiliated with large companies, like AT&T.

"With its new enabling legislation recently extending to mid-market clients, Texas can now offer a credible alternative to more traditional domestic jurisdictions. In choosing to work with the Texas Department of Insurance, we remain steadfast in our objective of only providing top-level domiciles for our national client base.”


More on this story

Law & regulation
2 March 2020   Reserve Mechanical Corp has filed an opening brief with the Tenth Circuit Court of Appeals challenging the US Tax Court’s rulings related to its captive insurance case.
Analysis
26 January 2018   Capstone Associated Services has appointed Jeff Carlson as its head of operations, who will go onto become the firm's president as Charles Earls, the founding president, will step down after 20 years.
Analysis
19 October 2017   Capstone Associated Services has expanded its reach in the Northeast and Mid-Atlantic regions of the US with the appointment of David Osbourn as director of business development for the region.

More on this story

Law & regulation
2 March 2020   Reserve Mechanical Corp has filed an opening brief with the Tenth Circuit Court of Appeals challenging the US Tax Court’s rulings related to its captive insurance case.
Analysis
26 January 2018   Capstone Associated Services has appointed Jeff Carlson as its head of operations, who will go onto become the firm's president as Charles Earls, the founding president, will step down after 20 years.
Analysis
19 October 2017   Capstone Associated Services has expanded its reach in the Northeast and Mid-Atlantic regions of the US with the appointment of David Osbourn as director of business development for the region.