19 min

GCP Bonus: Supreme Court victory for captive insurance - what does it mean‪?‬ Global Captive Podcast

    • Business

On Monday, 17 May the US Supreme Court ruled unanimously in favour of CIC Services, LLC and the captive insurance industry in its case against the Internal Revenue Service concerning the lawfulness of Notice 2016-66.

The IRS had argued the Anti-Injunction Act prevented any suit seeking to challenge the Notice. The Court ruled, however, that the Act does not preclude such a suit, which can now proceed.

In this 20 minute bonus episode, Richard is joined by Kevin Doherty, member at Dickinson Wright, legal consultant Cassie Bachman and Gary Osborne, vice president at Risk Partners, to explain what the case was about, what the Supreme Court ruled, what happens next and what, if any, wider ramifications there may be from the ruling.

Full Supreme Court opinion here: https://www.supremecourt.gov/opinions/20pdf/19-930_d1o3.pdf

Recommended article on Captive Insurance Times containing reaction from other industry commentators: https://bit.ly/3vipj3C

You can subscribe to the Global Captive Podcast on iTunes, Apple Podcasts, Spotify or any other podcast app.

Read the second edition of GCP Insights here: www.globalcaptivepodcast.com/gcp-insights

Contact Richard: richard@globalcaptivepodcast.com

Visit the website: www.globalcaptivepodcast.com

Follow us on LinkedIn: www.linkedin.com/company/global-captive-podcast/

On Monday, 17 May the US Supreme Court ruled unanimously in favour of CIC Services, LLC and the captive insurance industry in its case against the Internal Revenue Service concerning the lawfulness of Notice 2016-66.

The IRS had argued the Anti-Injunction Act prevented any suit seeking to challenge the Notice. The Court ruled, however, that the Act does not preclude such a suit, which can now proceed.

In this 20 minute bonus episode, Richard is joined by Kevin Doherty, member at Dickinson Wright, legal consultant Cassie Bachman and Gary Osborne, vice president at Risk Partners, to explain what the case was about, what the Supreme Court ruled, what happens next and what, if any, wider ramifications there may be from the ruling.

Full Supreme Court opinion here: https://www.supremecourt.gov/opinions/20pdf/19-930_d1o3.pdf

Recommended article on Captive Insurance Times containing reaction from other industry commentators: https://bit.ly/3vipj3C

You can subscribe to the Global Captive Podcast on iTunes, Apple Podcasts, Spotify or any other podcast app.

Read the second edition of GCP Insights here: www.globalcaptivepodcast.com/gcp-insights

Contact Richard: richard@globalcaptivepodcast.com

Visit the website: www.globalcaptivepodcast.com

Follow us on LinkedIn: www.linkedin.com/company/global-captive-podcast/

19 min

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