In my last article, I produced an overview of closely held insurance companies aka captive insurance companies and their excellent tax benefits for businesses. Separate and apart from the risk management...more
Captive or closely held insurance companies have been around a long time, at least fifty or more years. For most of their existence, captive insurance companies lived in relative anonymity and were mostly in...more
In January, New York Governor Andrew Cuomo proposed broad corporate tax reform in his budget bill, which is currently winding its way through the legislature. The most significant proposal is a shift from a separate entity...more
The Dutch Ministry of Finance has released a new transfer pricing Decree that is already in effect.
The New Decree, announced in late November, supersedes two earlier Decrees, that of 30 March 2001 (IFZ 2001/295) and...more
With recovery in financial markets starting to take hold it is an exciting time to launch our Global Financial Markets Insight. The purpose of our new quarterly is to help guide new and experienced users of...more
On November 5, 2013, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac (the GSEs) will no longer reimburse their participating servicers for expenses arising out of captive reinsurance...more
Companies seeking an alternative to traditional risk management approaches are increasingly turning to the captive insurance market, especially for recurring and foreseeable losses.
As most commonly understood, the...more
In This Issue:
- “The Upfront Costs of Compliance Are Looking More Like a Bargain Every Day” and “How to Minimise the Risk of Insider Trading and Leaking of Material Information” (October-December), Risk &...more
In Wendy’s International, Inc. v. Brian Hamer, decided earlier this week, the Illinois Appellate Court found that Taxpayer had met its burden and proved that its subsidiary insurance company was a bona fide insurance company...more
With insurance premiums on the rise and the uncertain state of the federal tax system, middle market business owners may be looking for a source of stability that allocates the risks associated with operations. A “small”...more
White v. The PNC Fin. Servs. Grp., Inc., No. 11-7928, 2013 U.S. Dist. LEXIS 86650 (E.D. Pa. Jun. 20, 2013).
In this case, plaintiffs accused one of the defendant banks and its affiliated reinsurer of carrying out an...more
The past few weeks have seen a flurry of insurance regulatory activity at the federal, state and international level. Individually these developments are noteworthy; taken together, they evidence the depth and breadth of...more
A highly critical report issued by the New York State Department of Financial Services (DFS) on June 11, 2013, found that almost a quarter of New York life insurers were diverting a total of $48 billion of their policies to...more
Captive insurance companies may now be domiciled in Texas under a law signed by Gov. Rick Perry on Monday. Texas joins more than 30 other states that permit the formation and operation of various types of captive insurance...more
Riddle v. Bank of Am. Corp., Case No. 12-1740 2013 U.S. Dist. LEXIS 52091, 2013 WL 1482668 (E.D. Pa. Apr. 11, 2013).
An outgrowth of the residential housing bubble was the creation of captive mortgage bank reinsurers. ...more
IN THIS ISSUE:
- Recent Case Summaries
- Recent Speeches and Publications
- Excerpt from Recent Case Summaries:
CALIFORNIA FEDERAL COURT GRANTS MOTION TO COMPEL PRODUCTION OF REINSURANCE DOCUMENTS AND...more
With Governor Nixon’s signature on May 16, 2013, the state of Missouri has adopted legislation modifying its captive insurance law. The legislation, Senate Bill 287, will allow the formation of sponsored captive insurance...more
Committee Substitute for House Bill 1191 (CS/HB 1191) makes several changes to Florida’s captive insurance law to remedy unintended consequences that may have resulted from the 2012 enactment of Committee Substitute for...more
The Consumer Financial Protection Bureau has entered into consent orders with four mortgage insurance companies involving captive reinsurance of mortgage insurance issued to mortgage lenders. Those consent orders impose fines...more
Because I've had a couple of food industry clients inquire of me about the benefits of Captives, I attended a morning seminar on the topic earlier this week. I was very keenly interested in the real benefits that are...more
Originally Published in Risk Retention Reporter - March 2013.
A number of U.S. states are creating captive domiciles to compete with Vermont, South Carolina, Hawaii and other long-established leaders. We interviewed...more
The issue of carried interest taxation as obscure an issue as it is, has gotten all kinds of attention in the media over the last several years. Most recently, the issue garnered national attention during...more
A. Overview -
Part I of this series focused on the impact of impending tax increases following the Presidential Election for corporate executives and salaried professionals. Part II of the series will focus on...more
In case you have been in the trenches or out at Sea since the beginning of the year, here is what the tax landscape looks like going forward into 2013. The Bush tax cuts are due to expire at the end of 2012 absent tax reform...more
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