Pete Kranz on CICA Conference Panel

March 15, 2019

Pete Kranz, Beecher Carlson’s Captive Practice Leader, was on the CICA conference panel entitled “Addressing Extra-Domicile Regulatory and Premium Tax Risks.” The panel’s discussion centered around regulation by states other than a captive’s domicile and collection of direct placement taxes – highlighting some insurance regulators shift toward increasingly aggressive enforcement on captive insurance transactions.

Some states, considering the broader implications of an organization’s overall business relations with that respective state, are taking a more business-friendly approach to these taxes, while others are becoming increasingly aggressive. This shift, the panel suggested, may have a significant impact on the US captive industry but also provides opportunities for strategic planning and a distinct opportunity for certain jurisdictions to set themselves apart as truly “open for business” regardless of industry.

For a summary of the panel’s discussion, click here.