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CAPTIVE INSURANCE COMPANIES FOR SMALL TO MID-SIZE BUSINESSES

Cost Free Presentation Length 1.0 hour 

Recorded DateSeptember 21, 2017  CPE:Not available (archived webinars do not offer CPE credits)  Subject AreaTaxes  Course LevelBasic  Who should attend?CPA - small firm
CPA - medium firm
Other 
Course Description

Captive insurance companies are no longer the domain of Fortune 500 Companies. During 2002, the IRS published safe harbors making captives more economically viable, which has led to a proliferation of 3,000 plus captives taking the 831(b) Small Property and Casualty Election. Due to the popularity of these smaller captives (“micro-captives”), regulatory scrutiny by the IRS and domicile regulators has increased. This course will introduce CPAs and other advisors to the captive industry, specifically micro-captives. The risk management and tax benefits of micro-captives will be addressed; however, the emphasis of the course will be regarding how to conservatively structure and operate a micro-captive. Recent District Court rulings on insurance companies will serve as case studies and provide current insight as to what regulators seek in a compliant micro-captive program.

Learning Objectives

  • Is the proposed establishment of the Micro-Captive Insurance Company for risk management or tax purposes?

  • How are premiums on uninsured risks determined? Does the Captive Management Firm use an insurance industries’ risk/premium analytical software? Ask to look at an illustration of a feasibility report for premiums on uninsured risks. This is imperative! This is the heart of the “Business Purpose” relative to IRS Code Sec 162.

  • Is the risk sharing pool legitimately priced?

  • How to invest like a real insurance company and setting proper distribution expectations.

  • Determine which of your clients will benefit with a captive insurance company.

Testimonials

"This seminar on captive insurance companies is an excellent tool that more companies should consider."

"Both speakers did an outstanding job of giving a simple explanation to a complex and relatively rare topic."

"The power point slides were informative and well done. Many creative ideas for structuring captives were shared by the presenters."

"Excellent overview of an under-utilized tax and business planning tool for mid-to-large businesses."

"Great presenters! I learned a lot about Captives today!"

"The power point slides were informative and well done. Many creative ideas for structuring captives were shared by the presenters."

PLEASE NOTE: ARCHIVED WEBINARS DO NOT QUALIFY FOR CPE
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Howard Potter, JD, MBA

Atlas Insurance Management
Captive Insurance Consultant
hhp@hhpdenver.com
(720) 308-8246

Atlas

Howard Hugh Potter, JD, MBA, CPA, has been involved in providing insurance, tax, and financial strategies for public and closely held businesses utilizing captive insurances companies since 2001. He focuses on business development and subject expertise with CPA & law firms, insurance agencies, and financial planning & wealth management firms through affiliations as an independent contractor with captive management firms. Mr. Potter received his Juris Doctorate and Bachelor of Science of Business Administration from Creighton University and his Masters of Business Administration from the University of Nebraska. Mr. Potter was staff accountant at Peat, Marwick and Mitchell in Omaha, Nebraska and Senior Accountant in the Tax Department at Touche Ross Company in Denver, Colorado. As partner in the law firm of Vaughan and Potter, he worked in the areas of tax, legal, and financial consulting involving oil and gas investments, equipment leasing, and the marketing of tax advantaged investments. He was co-founder, principal, and national sales manager of Denver Securities Corporation, a NASD securities firm and was responsible for developing a national sales team, sales material and presentations that marketed through law firms, CPAs and the brokers/dealer community. After retiring from the law firm he served as President and CEO of CareerLab, Inc. a human capital management firm and a member of Lincolnshire International with 17 offices in North America. Mr. Potter also served on the Board of Lincolnshire and as Treasurer. Mr. Potter is an inactive member of the American Bar Association, Colorado Bar Association, Nebraska Bar Association, Colorado Society of Certified Public Accountants and the American Institute of Certified Public Accountants. He holds current licenses with the Colorado Division of Insurance for property & causality and life. Mr. Potter is a former member of the Union League Club of New York and served as a Member of the Board of Trustee for Colorado Academy, Denver, Colorado. He is a lifetime member of the National Rifle Association. Mr. Potter currently serves on three Boards: the Colorado Board of Directors of the Association for Corporate Growth and the Colorado Board of Directors of the Financial Executives International. He was awarded the Denver Association for Corporate Growth Chapter’s 2010 Outstanding Member of the Year Award. Mr. Potter also serves as a Board member for Spirit of the Sun, a 501(c)3 non-profit organization which focuses on strengthening and improving the economic and cultural well-being for Native American communities. He has hosted the Annual Investment & Financial Cross-Networking Event held at the University of Denver since 2006, with a sellout of 400 plus attendees. Mr. Potter grew up on a cattle and horse ranch on the Rosebud Sioux Indian Reservation in South Dakota and is a 4th generation enrolled member of the Rosebud Sioux Tribe. His children, Kristin, Kara and Brandon are also enrolled members of the Rosebud Sioux Tribe as are his three grandchildren, Kendall, Ben, and Russell. He and his wife, Marcia, enjoy visiting their children and grandchildren in Aspen, CO and Santa Fe, NM. Their mutual passions are family, music, and the outdoors.

About Our Sponsor

Atlas
Atlas Insurance Management, established in 2002, has quickly become a leader in both the formation and management of captive insurance companies for a diverse clientele. With decades of expertise spread among its senior executives, the firm provides consulting and management services in the major U.S. and offshore domiciles. Atlas is committed to assisting all kinds of enterprises in creating custom captive insurance models for the efficient financing of risk. We enjoy working with our clients, learning to understand their businesses and helping them to appreciate the full scope of their risk environment. Our objective is to match captive insurance and other techniques to strategic business objectives and the client’s appetite for risk. Atlas has worked with all types of captive insurance companies. Team members have structured and managed a full spectrum of programs for property and casualty coverages, (including warranty, workers’ compensation, general and auto liability, marine and transit and medical malpractice) as well as medical, accident, life and annuity business.