New ABA book provides lawyers with key components of captive insurance

In today’s business world, many Fortune 500 companies, mid-sized and small businesses and tax-exempt organizations participate in captive insurance structures. The American Bar Association Business Law Section’s newly published book, “Captive Insurance Deskbook for the Business Lawyer,” helps lawyers decipher the intricacies of this area that includes discussion of the types of captives and addresses how to approach whether a captive makes sense for a business owner.
“Captive Insurance Deskbook” focuses on various aspects of the captive’s operation and management — from taxation, special uses and regulation to eventual exit and potential tax litigation issues. Written by experts specializing in captive insurance, the book includes discussion on:

• Various types of captives

• Captive insurance company feasibility

• Using a captive to fund employee benefits and the advantages of placing them in captives

• Corporate counsel’s role with captives and managing conflicts of interest

• The role of the domicile regulator

• Taxation of captives

• IRS examination of captive insurance

About the editor: David J. Slenn is a partner in the Tampa office of Shumaker, Loop & Kendrick LLP, where he concentrates his practice in tax, estate and business planning with an emphasis on risk mitigation. He is the immediate past chair for the ABA Business Law Section’s Captive Insurance Committee and a past chair for the Asset Protection Planning Committee in the ABA Section of Real Property Trusts and Estate Law.