In this session, Mark Sims will give an overview of the 831(b) tax election, why it is so problematic, and where it stands following the most recent Tax Court decisions. Sims will then introduce a more effective risk management solution - Private Insurance - and its numerous benefits and uses. CapAlt’s reinsurance structure offers small to medium sized business owners, family offices, and high net worth individuals Fortune 500 risk management solutions, scaled to their size and risk appetite. Advisors will be particularly interested in the 831(b) Conversion option which will enable clients to close their 831(b) captives under a tax-free exchange.
Mark Sims is President of Global Business for Captive Alternatives, LLC. With more than 25 years of experience, Mark is an expert in the field of enterprise risk management and insurance consulting. In his role as President, Mark helps businesses insure catastrophic risk and employee benefit programs, converting premiums into financial assets through Private Insurance Companies. Since joining CapAlt in 2000, Mark has worked closely with tax attorneys, estate planning firms, family offices, and trusted advisors to create customized risk management solutions for HNW individuals and businesses owners across multiple sectors.
Mark is a charismatic and popular professional speaker who is regularly invited to speak to professional groups and associations throughout the country on the use of Private Insurance Companies for risk management, asset protection, wealth preservation and exit strategies. He is certified by the National Association of State Boards of Accountancy as a National Registry CPE Sponsor on the topics of Enterprise Risk Management and Insurance. He regularly provides industry-specific webinars and group live presentations to advisor groups and CPAs who want to learn more about the Private Insurance Company and the Puerto Rico domicile.
Mark is a graduate of Indiana University Bloomington. He is an active member of the Captive Insurance Companies Association and sits on the Captive Committee of the Self Insurance Institute of America.