Adkisson's Captive Insurance Companies: An Introduction to Captives, Closely-held Insurance Companies, and Risk Retention GroupsA 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 |
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Common terms and phrases
actuarial affiliates AMERCO amount application approved arrangement assets Authority Bermuda brother-sister capital captive insurance company captive’s Carnation chapter claims Commissioner’s constitute insurance corporation coverage deductible determined director domicile economic family entities federal income tax financial funds Gierse Gulf Health Care Indemnity Humana Inc incorporated Insco insurance business Insurance Commissioner insurance contracts insurance premiums insurance risk insurance subsidiary insurer’s Internal Revenue Code investment issue Kidde Kidde’s letter of credit liability licensed limited liability company Malone 8C Hyde managing general agent Mentor Moline Properties parent payments percent person plaintiff policies policyholders premiums paid protected cell purchasing group pure captive insurance reciprocal insurer reinsurance reserves Revenue Ruling risk distribution risk retention group risk shifting S.Ct shifting and risk sponsored captive insurance Stearns-Roger subsection subsidiary insurer Tax Court taxable tl'lC transaction transfer underwriting United unrelated business unrelated parties wholly owned subsidiaries
Bibliographic information
| Title | Adkisson's Captive Insurance Companies: An Introduction to Captives, Closely-held Insurance Companies, and Risk Retention Groups |
| Author | Jay Adkisson |
| Publisher | iUniverse, 2006 |
| ISBN | 0595422373, 9780595422371 |
| Length | 372 pages |
| Export Citation | BiBTeX EndNote RefMan |