Supreme Court to Hear Micro-Captive Case
Insurance Journal writes that the Supreme Court of the United States has agreed to review the result of CIC Services vs. IRS, which was ruled in favor of the IRS last year.
captive insurance company
Caterpillar Captive Program Tied To Profit Centers
When it comes to financial vehicles that provide strategic impact and flexibility to a business, nothing compares with a captive insurance company. This is certainly the case at Caterpillar, where its captive insurance program has strategically and creatively supported its dealer network and its greatest profit center. Cat’s greatest profit center isn’t the sale of its behemoth earth movers and other mechanized monsters.
Casting A Wide Insurance Net To Address Cyber Threats
It’s not surprising that many businesses are not fully prepared to for cyber risks. The nature of this threat continues to evolve as technology advances, cloud computing grows, social media continues its advance and cyber criminals become more sophisticated. Mega-retailer, Target, recently announced a bomb-shell. Hackers had accessed private information for millions of Target customers. The retail giant has announced that all customers who have shopped at Target since Black Friday are at risk of having their identities stolen due to this enormous cyber breach.
DEFENDING CAPTIVE INSURANCE COMPANIES
By Sean G. King, JD, CPA, MAcc
Principal, CIC Services, LLC
Congress believes that placing captives on an even playing field with third-party insurers makes business and tax sense. The Service, however, is increasingly devoting resources to scrutinizing potential abuses. This outline focuses upon how to form and operate a captive to withstand an audit by the Service as well as how to defend captives under attack.