The US Supreme Court ruling in the CIC Services case against the IRS has been described by Ryan Work, vice president, government relations at SIIA, as “an important victory” for the captive insurance industry
The US Supreme Court has ruled in favour of the CIC Services in their case against the Internal Revenue Service over Notice 2016-66, in a unanimous decision
The IRS has established a new office that will coordinate efforts across multiple business divisions to address abusive syndicated conservation easements and ‘abusive micro captive insurance arrangements’, according to IRS commissioner Chuck Rettig
SIIA says that while the IRS continues activities related to captive insurance, it must also move towards recognising what an appropriate structure is, and issue appropriate guidelines to that purpose
The Internal Revenue Service has urged participants in ‘abusive micro captive insurance arrangements’ to exit these transactions as soon as possible
Micro captives have taken another knock back in the latest US tax court ruling involving Caylor Land & Development and the Internal Revenue Service
In the US District Court for the northern district of Georgia Atlanta division, District Judge Leigh Martin May ruled in favour of the IRS against Moore Ingram Johnson & Steele, a law firm providing micro-captive advice
Christopher Gallo has joined CIC Services, a Knoxville-based risk management consulting firm as managing director
Matthew Reddington, partner at ZMFF&J Law, sheds light on the first victory of a micro-captive against the IRS in court, after the federal agency failed to show that the captive management firm RMC Group was liable for Section 6700 penalties
Scott Simmons, director of Verve Risk Services, and Michael Maglaras, president of Michael Maglaras & Company, shine a light on abuse in the captives industry through the use of 831(b) of the Internal Revenue Code and how firms can protect themselves
As a key emerging market tapped by captives, how does the cannabis industry address risk and insurance in the face of misconceptions and a challenging federal mandate in the US?
Anne Marie Towle, Adrien Collovray and Courtney Claflin provide an overview of the current captive market, challenges that have carried over into 2022, and what’s on the horizon
Scott Simmons, director of Verve Risk Services, discusses the key decisions and oversight duties of captive insurance boards to help minimise D&O exposure risks. He highlights proper governance, planning, due diligence and accountability measures as imperative for directors
Stephen Taylor talks to Frances Jones about his role and his ambitions for the Delaware captive programme
Kerr Russell’s Eric Lark explains that due to a number of factors group captives continue to flourish
Debbie Walker of NCDOI explains why ongoing regulation of licensed captive insurance companies is the domicile’s primary focus
Travis Wegkamp of Utah Insurance Department explains that the state is seeing larger companies move to the state with more robust risk management programmes, higher premium volume, and a long-term outlook for the use of their captive
Experts discuss the state of play throughout the world’s biggest captive market
Guernsey, the Isle of Man and Jersey are working harder than ever to promote themselves as the go-to jurisdiction and capitalise on new opportunities
Although Puerto Rico may be the new kid on the block, Ruben Gely of MCH Advisors reveals that it is gaining popularity
