Topic: Captives

Amendment to D.C. Captive Statute Introduced

Earlier this month, the Captive Insurance Agency Amendment Act of 2017 (DC LB 420) had its first reading before the District of Columbia Council. If enacted, LB 420 would increase the number of insurance products available for purchase through DC’s Captive Insurance Agency.

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Captive Insurance Arrangements Taking Advantage of Section 831(b) Election May Be Required to Report to the IRS

The Internal Revenue Service on November 1 issued Notice 2016-66, which requires information reporting with respect to certain insurance or reinsurance transactions involving captive insurance companies that claim the benefits of an election under Section 831(b) of the Internal Revenue Code available to certain small insurance companies, often referred to as micro-captive transactions.

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