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TAXATION OF A CAPTIVE INSURANCE COMPANY: IS A CAPTIVE RIGHT FOR YOUR CLIENT?

Cost Free
Presentation Length 1.5 hours

Recorded DateSeptember 11, 2013
CPE:Not available
(archived webinars do not offer CPE credits)
Subject AreaTaxes
Course LevelBasic
Series: Taxes
Course Description

This seminar will provide an overview with emphasis on taxation of Captive Insurance Companies. We will include the historical developments of the risk management use of captives and an overview of the tax authorities that have evolved over the past several decades. This course will also provide an overview of the process of formation, ownership, and management of Captive Insurance Companies.

Captives were previously the exclusive province of Fortune 1500 companies to provide insurance for risks not available in the commercial market or which are felt too expensive. In the last two decades closely held businesses have learned of and are taking advantage of the benefit of owning a Captive. We will provide an overview of the reasons why your clients should consider implementing a Captive. We will also address the different types of Captives in the marketplace.

This seminar will briefly review what a Captive Insurance Company is, the risks that are typically financed through a Captive, the regulatory and tax fundamentals required for properly establishing and operating a captive, US income taxation of Captives, and choice of domicile.

Learning Objectives

  • Provide insight on Risk Management benefits

  • Provide overview of income tax considerations

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

PLEASE NOTE: ARCHIVED WEBINARS DO NOT QUALIFY FOR CPE
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Frederick E. Turner, Founder. B.A. Economics Long Beach State University, high distinction, Graduate Juris Doctorate, Loyola Law School,1980, cum laude. Member California Bar Association, Central District State of California, Ninth Circuit Federal Court of Appeals, U.S. Supreme Court. Fred also serves as the Vice Chairman of the captive committee of the American Bar Association. Fred entered the field of alternative risk solutions in 1986. Throughout the course of his career, several large insurance companies have retained Fred, including, Hartford Insurance, Cuna Mutual Insurance Company, Fidelity National Title Insurance Company, Chicago Title Insurance Company and American Title Insurance Company.

About Our Presenter

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Competence, Integrity and Innovation, is not simply a slogan but rather the founding principles at Active Captive Management. Since 1997, Active Captive Management has assisted companies like yours design and develop alternative risk transfer solutions in multiple industries. Whether your needs are better suited to a domestic captive or an offshore entity; Active Captive Management’s team can provide a turnkey captive solution. The current insurance market has had a severe impact on conventional insurance and other industries. Many of our clients, while realizing the exposure from risks such as mold, earthquake, construction defect and professional liability have been left with a dilemma: pay outrageous premiums for limited coverage or self-insure. Our firm provides comprehensive services encompassing tax consulting, financial accounting, diverse insurance risk analysis and related coverage protection, policy underwriting and claims processing, as well as captive regulatory compliance management. Active Captive Management’s tax consulting expertise provides valuable resources to access the substantial tax benefits available to captive insurance companies under federal income tax laws, as long as the company is properly structured and managed.