UCIA News:

The Utah Captive Insurance Department is introducing a legislative bill is addressing expansion of captive eligibility to include allowing Association captives to cover personal homeowners insurance of their members and also elimination of the 5 year examination period of captive companies. (Link to Utah Legislative Process)

Effective October 2023, the Utah Captive Insurance Division has procured permission from Governor Cox to allow captive insurance companies who insure medical cannabis.

Victory for Micro-Captives! Notice 2016-66 Has Been Vacated by TN Federal District Court Order - Page 16 of the Tennessee Federal District Court (Eastern District of Tennessee) vacates Notice 2016-66 “in its entirety” and orders the IRS “to return all documents and information produced pursuant to the Notice to taxpayers and material advisors.”

UCIA Joined Coalition and Filed Amicus in Support of State Insurance Regulation, 3/17/2022

The UCIA is supporting the Delaware State Department of Insurance by joining an amicus brief filed in the US Court of Appeals filed 3/17/2022.

Captive Manager Wins Ruling In Fight With IRS, 9/21/2021

Editor’s Pick: Utah in Captive Insurance Times, 7/22/2020, The Beehive State

Utah in Captive Insurance Times, 7/23/2020, Captive Organisations Form Coalition to File Brief for IRS Supreme Court Case

Captive Insurance Times, 7/16/2020 Micro Captives Not Listed on IRS’ ‘Dirty Dozen’ List For First Time in Five Years

The UCIA Board of Directors responded to the IRS letter dated March 20, 2020

  • The UCIA board of directors have created a response to this letter and has sent it out to the governor’s office, Utah senators, state representatives, media outlets, other captive insurance associations, etc. If you would like to receive a copy of the correspondence, please email the UCIA.

Legislative News

  • THE UCIA, IN CONJUNCTION WITH OTHER STATE ASSOCIATIONS, HAVE FILED AN AMICUS BRIEF DEFENDING RESERVE MECHANICAL

THE FILED BRIEF

RESERVE FILES OPENING BRIEF WITH TENTH CIRCUIT COURT OF APPEALS, 3/2/2020

Reserve Mechanical files brief with Court of Appeals over US Tax Court captive ruling, 3/2/2020

10TH CIRC. URGED TO ALLOW CAPTIVE INSURER TAX DEDUCTION, 2/28/2020

UCIA's Captive Manager Code of Conduct

  • UCIA BOARD OF DIRECTORS AND OFFICERS HAVE VOTED TO ADOPT SIIA’S CODE OF CONDUCT FOR USE IN UTAH. SIIA CODE OF CONDUCT

Utah in Captive Insurance Times, 7/23/2019, The Utah Captive Insurance Domicile

Current Events:

  • We’ll see you in Arizona at the Western Regional Captive Insurance Conference, June 2024. Go to www.westerncaptiveconference.org for more information and to register.

  • WRCIC Virtual Session, Brightest Opportunities in the Captive Industry – Version 4

    NO FEE RECORDED VIRTUAL SESSION! REGISTER HERE TO VIEW THIS RECORDING

  • WRCIC Virtual Session, Selecting Service Providers

    NO FEE RECORDED VIRTUAL SESSION! REGISTER HERE TO VIEW THIS RECORDING

  • [Postponed] Scheduling an association legislative meeting with Representative Jim Dunigan

    • THIS WAS PLANNED FOR SUMMER 2023.

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