captive insurance updates Edit post Published on November 16, 2016 LikedUnlikecaptive insurance updates1Comment1ShareShare captive insurance updates1 Lance Wallach Lance Wallach Business Owner at National Offices of Lance Wallach captive insurance changes
Lance Wallach
Business Owner at National Offices of Lance Wallach
Businesses have long used captive insurance companies (captives) to manage insurable risks. A typical captive is owned by the business owners and insures the risks of the business. If properly structured and operated, captives can allow businesses to finance insurable risks through an alternative platform, consolidate their insurance purchases, and access the reinsurance market.
Certain small captives may elect to be taxed only on their investment income. However, there have been recent changes to the eligibility requirements to make the election.
Small Captives: Sec. 831(b)
Some captives (831(b) captives) have taken advantage of a special election under Sec. 831(b), which permits, in lieu of the otherwise applicable tax, certain property and casualty insurance companies to elect to be taxed only on their investment income. The election is available only to a company whose net written premiums or direct
captive insurance updates
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Published on November 16, 2016
LikedUnlikecaptive insurance updates1Comment1ShareShare captive insurance updates1
Lance Wallach
Lance Wallach
Business Owner at National Offices of Lance Wallach
captive insurance changes
Lance Wallach
Business Owner at National Offices of Lance Wallach
Businesses have long used captive insurance companies (captives) to manage insurable risks. A typical captive is owned by the business owners and insures the risks of the business. If properly structured and operated, captives can allow businesses to finance insurable risks through an alternative platform, consolidate their insurance purchases, and access the reinsurance market.
Certain small captives may elect to be taxed only on their investment income. However, there have been recent changes to the eligibility requirements to make the election.
Small Captives: Sec. 831(b)
Some captives (831(b) captives) have taken advantage of a special election under Sec. 831(b), which permits, in lieu of the otherwise applicable tax, certain property and casualty insurance companies to elect to be taxed only on their investment income. The election is available only to a company whose net written premiums or direct
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