Captive Insurance Taxation and Accounting Issues
1 hour 40 minutes
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 States based 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 States based risks. Why? Because captive insurance companies are a cost-effective 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.
• You will be able to recognize when a rent-a-captive 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.