Adkisson's Captive Insurance Companies: An Introduction to Captives, Closely-Held Insurance Companies, and Risk Retention Groups

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iUniverse, 2006 - Business & Economics - 353 pages
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A captive insurance company is, in a nutshell, an insurance company formed by a business owner to insure the risks of the operating business. The operating business pays premiums to the captive, and the captive insures the risks of the operating business. A captive is much more than an exotic form of self-insurance: It is the creation of a new insurance company that has the potential to grow from being a mere captive into a full-blown insurance company seeking to profit from underwriting the risks of others. Adkisson's Captive Insurance Companies provides a basic introduction to captives and their benefits, including: utilize your own experience ratings; recapture underwriting profits; underwrite exposed risks and deductibles; access the reinsurance markets; and transfer wealth between generations. This book also provides a unique look at the wealth transfer, accumulation and preservation advantages of captives, as well as an overview of the types of captives, taxation of captives, and captive domiciles.
 

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Contents

Chapter 1 Captive Benefits
1
Chapter 2 Wealth TransferAccumulation and Preservation
11
Chapter 3 Basic Concepts
19
Chapter 4 Types of Captives
29
Chapter 5 Captive Taxation
37
Chapter 6 Formation and Licensing
45
Chapter 7 Policies
56
Chapter 8 Domiciles
69
Appendix F Revenue Ruling 200131
179
Appendix G Revenue Ruling 200289
181
Appendix H Revenue Ruling 200290
185
Appendix I Revenue Ruling 200291
189
Appendix J Notice 200334
193
Appendix K Rev Rul 200540
197
Appendix L Humana Inc v CIR
203
Appendix M Gulf Oil Corp v CIR
243

Chapter 9 Domestic Domiciles
74
Chapter 10 Offshore Domiciles
79
Appendices
87
Appendix A Risk Retention Statute
89
Appendix B Vermont Captive Statute
95
Appendix C South Carolina Captive Statute
133
Appendix D Cayman Islands Insurance Law
153
Appendix E 26 USC 831
177
Appendix N AMERCO Inc v CIR
253
Appendix O Sears Roebuck and Co v CIR
263
Appendix P Ocean Drilling Exploration CovUS
277
Appendix Q Malone Hyde Inc v CIR
305
Appendix R Kidde Industries Inc v US
317
Appendix S United Parcel Service v CIR
341
Index
349
Copyright

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