The IRS has scope to improve its reviews of offshore insurance audits and investigations, as well as how it records and analyses the quality reviews of such investigations, according to a study by the U.S. Government Accountability Office
The Legislative Assembly of Alberta has passed a reading of Bill 16, also known as the Insurance Amendment Act, to include clarifications around the redomestication of captive insurance companies to and from the province
The Insurance Regulatory and Development Authority of India will look to facilitate entry of captive insurers into the jurisdiction’s insurance space to reflect the industry’s mature development
The House of Lords Industry and Regulators Committee recommends introducing a competitiveness objective for the FCA and PRA, following an inquiry into commercial insurance and reinsurance regulation
A bill seeking to clarify the authorisation of licensing and regulating captive insurers to ensure compliance with the National Association of Insurance Commissioners’ accreditation standards has been passed onto the senate of the US Virgin Islands
A ruling by the US District Court for the Eastern District of Tennessee has ordered for the Internal Revenue Service to set aside Notice 2016-66 in its abiding suit against captive manager CIC Services
Nine captive insurance domicile associations and the Self-Insurance Institute of America have filed an amicus brief in support of state insurance regulation in the ongoing case, United States of America v. Delaware Department of Insurance
