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Weekly, clear-headed commentary on the captive industry.
Next week, we will finish our series on the Top 10 Captive Myths. However, late in 2014, the I.R.S. has fortuitously provided a gift to the captive industry and businesses considering owning their own insurance company. That gift is another defeat in U.S. Tax Court in the Securitas case, providing even more reason to be [...] Continue reading
It’s been said that history repeats itself, and this certainly seems to be the case when the Internal Revenue Service challenges captive insurance companies. After a stinging defeat in early 2014 against Rent-A-Center, the Service challenged Securitas in U.S. Tax Court in late 2014. On October 29, the Court handed down its ruling in favor [...] Continue reading
A common myth in the captive insurance industry is that captives should be managed as much as possible like third party, commercial insurers. Specifically, captives should look to the standards of third party, commercial insurers when making such decisions as setting premiums, determining which lines of coverage to offer, establishing reserves and deploying assets. Comparing [...] Continue reading