INSURANCE

Empowering the Lion: 4 Ways to Brave and Minimize Insurance Fraud

Insurance fraud can be a beast, costing the average organization as much as 5% of its revenues. The bigger the beast – that is, the higher the fraudster’s seniority level on the company’s organizational chart - the higher the damage and the losses the fraudster is likely to cause, according to the Association of Certified [...]

November 7th, 2017|INSURANCE|

The Future is Here! A Look at Real Technology Innovations Impacting the Insurance Industry

Technological innovations and advances have exploded in the past few years, and engineers have created real-life “futuristic gadgets” — from handheld devices to self-driving automobiles and interactive refrigerators — that were once thought to only be possible in dreams or movies. These breakthroughs are crossing over into the insurance industry, a sector that is often [...]

October 18th, 2017|INSURANCE|

Risk-Focused Insurance Examinations: 10 Years Old But They Feel Brand New

More than a decade has passed since the National Association of Insurance Commissioners (NAIC) introduced us to the risk-focused examination process. Although this process has been in place for some time, insurance regulators and examiners must remain cognizant of emerging requirements and issues, as they have been plentiful and ever-changing in this area. By paying attention to updates, examiners can properly identify, [...]

August 1st, 2017|INSURANCE|

Leveraging Internal Audit to Meet ORSA Requirements

The Own Risk Solvency Assessment (ORSA) is designed to help insurance companies evaluate their risks and proactively address their capital needs. One tool that businesses can use to meet their ORSA requirements is an internal audit. Watch as Joseph May explains the relationship between ORSA and internal audits – as well as how [...]

February 23rd, 2017|INSURANCE, INTERNAL AUDITS, VIDEO|

A Microscopic View of Captive Insurance Taxation

A captive insurance company (or “captive”) is a licensed insurer generally established to meet the risk management needs of a specific company or group of companies. The risk management benefits are the primary reason for their formation, but the tax benefits can also be valuable. A captive must be licensed as an insurance company through [...]

December 5th, 2016|BUSINESS TAX, CAPTIVE INSURANCE, INSURANCE|

Notice 2016-66: The “Yellow Light” for Captive Insurance Transactions

In the recently released Notice 2016-66, the IRS identified micro-captive transactions as "transactions of interest" under Reg. 1.6011-4(b)(6). The mandate requires parties involved in certain Internal Revenue Code Section 831(b) arrangements to disclose the transactions to the IRS. In late December 2016, the IRS released Notice 2017-08 to extend the disclosure deadline from January 30, 2017 [...]

December 2nd, 2016|CAPTIVE INSURANCE, INSURANCE, INSURANCE NEWS FLASH|

Client Snapshot: Insurance

CRI works with a variety of companies to help them meet their insurance needs. Watch as Phyllis Ingram discusses how our captive insurance expertise yielded a high ROI for one of our clients.

April 19th, 2016|INSURANCE, VIDEO|

Out with the Old, in with the New ORSA Implementation for Insurers

NAIC adopted the own risk and solvency assessment model (ORSA) to modernize the regulation of insurance groups in the U.S. Watch Joe May discuss the privacy and regulatory concerns related to ORSA implementation and how CRI can help state insurance departments implement ORSA.

August 11th, 2015|INSURANCE, VIDEO|

Weighing Your Options: Is Captive Insurance Right for Your Company?

Captive insurance is tailored to meet the specific risk needs of your business. Typically, premiums will be reduced compared to commercial insurance premiums and substantial tax savings may apply. Watch Steve Williams explain how captive insurance may benefit your business, and then call CRI's advisors for help forming your captive.

July 12th, 2015|INSURANCE, VIDEO|