Successful captive operations need to be thoroughly researched and properly planned to consider all actuarial, tax, regulatory and accounting issues. Articles "Tax Clinic: Evolving Trends in Captive Insurance," The Tax Adviser, June 2015 "Tax Clinic: Captive Insurance Solutions for Rising Insurance Premiums," The Tax Adviser, Oct. 2014 "The Benefits of Captive Insurance Companies," JofA, March 2013 CPE self-study. image credit: KorArkaR/shutterstock.com. Source – Business Insurance captive survey Vermont 596 Utah 450 Delaware 323 Nevada 202 Hawaii 197 Montana 196 District of Columbia 193 South Carolina 167 Tennessee 127 Arizona 110 1 According to the Business Insurance captive survey, captive numbers at the end of 2015 had reached 6,939, up from 6,839 at the end of 2014. American International Group, Inc. (AIG) is a leading global insurance organization. Founded in 1919, today we provide a wide range of property casualty insurance, life insurance, retirement products, mortgage insurance and other financial services to serving customers in more than 100 countries and jurisdictions. AICPA resources. The An Introduction to Captives. A financial-services company, for example, can set up its own errors and omissions insurance carrier to serve itself exclusively, or a local group of farmers can create an insurance company to protect themselves from loss due to crop damage. Captive insurance is an alternative to self-insurance in which a parent group or groups create a licensed insurance company to provide coverage for itself. This week, we will explore if such a performance-based insurance product is appropriate for your construction company or if your insurance needs are best-fitted for a guaranteed cost program (i.e. traditional insurance). Last week, we defined what an insurance captive is and the 3 most common types of captives. 3. How Captive Insurance Works Understand the Process of Forming a Captive Insurance Company. Advanced Business Law for CPAs (#735237, text; #163551, one-year online access)

Captive insurance is insurance or reinsurance provided by a company that is formed primarily to cover the assets and risks of its parent company or companies. Captive insurance operates according to principles similar to self insurance, but captive insurance is a bit more complicated and costly to maintain. It is essentially an “in-house” insurance company with a limited purpose and is not available to the general public. Businesses use captive insurance companies as a risk management tool.

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