Captive Insurance Taxation and Accounting Issues

$219.00

SKU: 411221

Description

Gain a better understanding of key tax issues associated with the formation of captive insurance companies.
There are currently over three thousand United States domiciled captive insurance companies, which provide a broad range of direct insurance coverage and reinsurance coverage to a wide variety of United Statesbased businesses including Fortune 500 publicly traded companies, trade association sponsored captives, and privately owned businesses. This is in addition to many offshore captives insuring United Statesbased risks. Why? Because captive insurance companies are a costeffective alternative to purchasing commercial insurance in a variety of circumstances. This topic explores the captive insurance concept, the circumstances under which a captive is an excellent alternative to commercial insurance, the fundamentals of a successful captive insurance program, and the A to Z captive formation process.

Date: 2024-04-24 Start Time: 1:00 PM ET End Time: 2:40 PM ET

Learning Objectives

* You will be able to recognize when a rentacaptive is a better option.

* You will be able to discuss the licensing process and the regulatory perspective of regulators.

* You will be able to review the use of reinsurance and front carriers in a captive insurance company program.

* You will be able to describe the basic requirements for a successful captive insurance company.

Why Are Captive Insurance Companies a Cost-Effective Alternative to Traditional Insurance and Self-Insurance?
• Flexibility of Entity Form and Capitalization
• Taxation and Deductibility/IRS Requirements
• Substantive Regulatory Flexibility
• Flexibility in Types of Coverages in a Post-COVID-19 World

Captive Domiciles
• Domestic vs. Offshore/Advantages and Disadvantages
• Tax Impact of Domicile Selection
• Jurisdictional Captive Structure Requirements

The Requirements for a Successful Captive
• Loss Experience, Loss Control and Long-Term Commitment
• The Role of Reinsurance and Front Carriers in Captive Insurance Programs
• Competent Management and Service Providers

Current IRS Developments
• Section 831(B) Small Premium Captives Update
• Other Recent Captive Developments

AIPB ,CLE (Please check the Detailed Credit Information page for states that have already been approved) ,CPE ,Additional credit may be available upon request. Contact Lorman at 866-352-9540 for further information.

Robert W. Stocker II-Robert Stocker PLLC