Stay up to date with the latest changes and trends in captive insurance and risk management.
February 10, 2016
With the increasingly competitive economy, successful business owners and their strategic advisors are turning to more advanced strategies to improve their financial wellbeing and gain and secure competitive advantages. As is common with relatively new strategies, captive insurance has quickly gained the attention of potential captive owners and their advisers, as well as some increased scrutiny from regulatory bodies. To help navigate these waters we will take a look at a few best practices and help address questions related to some important players that are required to help ensure a successful and legitimate captive insurance program.
Click here to discover the characteristics and experience your captive manager and formation consultant should exhibit.
Amendments to S. 831(b) were included in the Tax Increase Prevention and Real Estate Investment Act of 2015 (SEC.262 H.R. 34) that was passed earlier this week. Changes to the Code have been pushed for by both captive owners and their advisors as well as the Internal Revenue Service for some time now.
Click here to read the new premium limits and eligibility requriements.
December 14, 2015
It is not surprising that captive insurance companies have been gaining prominence in recent years. There was an era when captives were primarily utilized by large corporations, but their adoption has accelerated among small and mid-market companies of late. There are two major reasons why captives are gaining traction with small and mid-size businesses.
Click here to discover the power and reason for captive insurance growth.
December 3, 2015
As a result of the ongoing trend of increasing captive insurance formation during the past few years, many captive owners are managing captives that have substantial assets in their loss reserves. The following article written by Assurance Partners and published in the most recent issue of Inside Medical Liability helps to outline the impact that effective loss control services has on the asset accumulation within a captive insurance company.
Click here to read and download your copy of the article.
November 20, 2015
Life is full of costs and it seems like they are always going up. Sometimes it's easy to think, "I'll worry about that later", "I'll pay that later", or "We'll get to that next year." But it's mid-Novembers and thers is a substantial cost that is urgent and looming. Successful business owners and their advisors have only a few weeks to address this very important cost: The Cost of Waiting to Set Up Their Own Insurance Company. The cost of delaying the formation decision can cost you as much as $600,000 in lost tax savings!
Click here to read how making the decision now to own a captive insurance company can position your firm significantly ahead of your competition.
October 7, 2015
With the continued expansion of 831(b) captive insurance company utilization Assurance Partners was recently asked to participate in the 2015 Tennessee Report published by Captive Review.
Joined by a strategic captive insurance partner we address questions related to the advantages provided by the Internal Revenue Service Code Section 831(b), to what extent the 831(b) election is responsible for industry growth, and the main considerations a company should assess when deciding to establish an 831(b) captive insurance company.
Read and download your copy of the publication here.
September 25, 2015
The Tax Court recently issued it’s opinion in R.V.I. Guaranty Co. Ltd. v. Commissioner, Dkt. No. 27319-12, to decide whether residual value insurance
policies are insurance for federal income tax purposes.
Find out how this decision impacts your captive or decision to form a captive insurance company here.
August 28, 2015
As we have covered in prior articles, “rules of thumb” offered up offhand by the IRS and certain others for distinguishing a “sham” captive transaction from a legitimate one are often too broad to be helpful. With that in mind, we have put together a list of 13 characteristics of a sham captive insurance arrangement.
Read 13 common characteristics of a captive insurance company sham here.
August 25, 2015
Earlier today the Captive Insurnace Companies Association (CICA) released an Information Statement regarding the utilization of micro captives (831(b) captives). This document echoes our emphasis on the importance of best-practices implementation and the use of competent and qualified captive professionals. This document and the corresponding CICA's Best Practices Guidelines are highly recommended for any individual considering the opportunity of captive ownership and their strategic advisors.
Read highlights and obtain a copy of the release here.
August 20, 2015
With increased competition from states driving down the cost of entry and the exponential sophistication of small and middle-market businesses this
trend shows little signs of slowing down.
Let's take a look at some of the most common questions surrounding the practice in order to give you the knowledge necessary to start a conversation around the tool.
August 20, 2015
Continuing with our series on identifying legitimate and sham captive insurance company arrangements, we now turn our attention to a discussion on the appropriate methods of a business owner engaging industry professionals.
If a business owner engages a captive service professional to operate a captive insurance company is that evidence of a sham?
August 7, 2015
Continuing with our series on identifying legitimate and sham captive insurance company arrangements, we now turn our attention to a discussion on the appropriate methods of introducing the idea of a captive insurance company.
If a captive insurance company is introduced by a financial advisor is it evidence of a sham?
August 4, 2015
Continuing with our series on identifying legitimate and sham captive insurance company arrangements, we now turn our attention to a discussion on what types of coverages a captive insurance company should write.
If a captive insurance company does not replace third party commercial coverage, is it evidence of a sham?
As one of the largest providers of risk management services in the Midwest, we can help guide your organization through the process of determining coverages and risks that are unique to your organization. We can then translate that risk into an acceptable insurance program allowing you to obtain the protection and financial benefits that are unavailable in the traditional insurance marketplace.
Formally insuring the risks your business faces provides can provide you with significant competitive advantages like:
- A stronger business model
- Turn risk management from a cost center to a major profit center
- Superior asset protection
- Significant financial strength
- Wealth accumulation through program performance
- Unique and favorable tax advantages
The discovery process traditionally starts with a conversation regarding your operations and the unique challenges your organization faces. What significant risks do you face that are currently uninsured? How can you go about implementing an effective Enterprise Risk Management strategy to take advantage, and protect, the success of your business? What are the potential financial and strategic benefits that a captive insurance program provide?
The flexibility offered by a captive insurance program is unparalleled in the industry. A thorough assessment of the risks that you face can allow you to define the pathway to an effective and superior Enterprise Risk Management (ERM) strategy.
Questions about Enterprise Risk Management (ERM) or Captive Insurance?
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