Captive Insurance: A Closer Look

As stated in a previous article, a captive insurance company is first and foremost in the insurance business and should not be viewed as purely a tax planning vehicle. However, tax saving opportunities can exist with captive insurance companies and these benefits should be enjoyed when the arrangement is properly structured. The following is one example of how this might work.

Bennett Thrasher Sponsors the Vermont Captives Insurance Association Road Show in Atlanta

Bennett Thrasher is proud to be a sponsor of the Vermont Captive Insurance Association Road Show in Atlanta on October 16 where shareholder Anton Hayward will provide the opening remarks. The day-long seminar, entitled “Strategic Advantages of Captives,” focuses on the basics of captive insurance companies; the reasons for formation; the feasibility process; and key issues in putting a successful captive program together.

Bennett Thrasher Continues Firm Growth with New Audit Partner Gus Hernandez

Bennett Thrasher LLP is pleased to welcome Gus Hernandez, CPA, as a Partner in the firm’s Audit practice. Hernandez has more than 27 years of public accounting experience assisting privately-held and publicly-traded companies with accounting, financial reporting and internal controls. He assists organizations with management of business and technology risks, and with improving the effectiveness of finance operations, including Sarbanes-Oxley readiness and compliance.

Considering Captive Insurance?

Over the last several years there has been significant growth in the utilization of captive insurance companies. There are several types of captives including pure or single-parent captives, group captives and other structures, including association captives, segregated cell captives and risk retention groups. A pure captive can be either a large or a small captive. Small captives are sometimes also referred to as micro captives.

Employers with Self-Insured Health Plans Take Note

The deadline is fast approaching for the payment of plan fees to fund patient-centered outcomes research that were created under the Patient Protection and Affordable Health Care Act (ACA). Issuers of specified health insurance policies and plan sponsors of applicable self-insured health plans are required to pay the fee by July 31.

Bennett Thrasher’s Intro to Captive Insurance Companies

Over the past decade captive insurance companies have gained significant exposure both domestically and abroad, but lately it seems that everyone is talking about captives. It is likely that you have heard your colleagues or business associates discussing the pros and cons of forming a captive.

Bennett Thrasher 2013 Financial Reporting Standards and Requirements Update

The Private Company Council (PCC), established by the Financial Accounting Foundation (FAF) in May 2012, is working in conjunction with the Financial Accounting Standards Board (FASB) to determine whether and when to modify existing US Generally Accepted Accounting Principles (US GAAP) in order to simplify the process and reduce the cost of preparing private company financial statements and improve the relevance of the financial statements to users. Those efforts are now paying off.

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