Legal Developments
Opportunities Enlarge as Texas Expands Its Captive Law
Governor Greg Abbott has signed House Bill 1944, which makes important changes to the Texas captive insurance law, opening up a variety of opportunities. This is the second consecutive session in which the Texas Legislature has made improvements to the captive statute since its enactment in 2013. Read More
New Law Further Improves Montana Captive Insurance Regulations
Montana captive insurance regulations get a boost as Governor Steve Bullock signs into law Senate Bill 245. Read More
Immediate Halt of Requirement To Disclose 831(b) Transactions of Interest Denied by Court
On March 27, CIC Services, LLC, and Ryan, LLC, filed suit against the IRS in US District Court for the Eastern District of Tennessee, seeking injunctive relief by setting aside IRS Notice 2016-66, as modified by IRS Notice 2017-06. On April 21, the court issued an order on CIC's and Ryan's motion for preliminary injunction, denying their request to immediately halt the IRS from enforcing its rule. Read More
Texas House Insurance Committee Advances Bill Improving Texas Captive Insurance Law
On April 18, the Texas House Insurance Committee approved legislation making improvements in the Texas captive insurance law. Among the six improvements would be credit for reinsurance ceded to non-affiliated and non-admitted reinsurers that meet the standards of the bill. Read More
NRRA Files Amicus Brief in Restoration RRG Appeal
The National Risk Retention Association filed an amicus curiae brief in support of Restoration RRG in its recent court appeal, challenging the Wisconsin Department of Safety and Professional Services for discrimination against risk retention groups. Read More