Micro captive insurers feature in US tax scam list for third year
Micro captive insurers – those that have annual written premium income of less than $1.2m – have been named among tax authorities' "Dirty Dozen" scams for a third year. The IRS warned investors that they are risking fines and back tax payments by putting money into some captive insurers. Micro captives can be operated abusively, luring investors to schemes that don't offer the same protections as genuine insurance firms or that cover risks they are already insured against. 

Previous latest news article

Nayms becomes first platform of its kind to be fully-regulated in Bermuda