March 2020 Edition
As the first quarter of 2020 comes to a close, so will the early darkness starting Sunday! Daylight Savings Time is coming back, so don't forget to set your clocks FORWARD one hour before you go to bed Saturday night!

There has been a lot of news coming out of Delaware lately. Especially with new captives being licensed under the fast-track procedure. Time will tell if other states follow in Delaware's footsteps.

If you have any questions about implementing a Captive, call me directly or visit our  Captive 101 section  on our website.

Larry Papola
Lawrence J. Papola, Jr.
Captive Claim Highlight
Client Profile
Industry:  Retail/Wholesale
Specialty:  Agricultural Equipment Sales
Location :  Georgia
Claim Information
Description: One of our insureds filed multiple claims through their commercial policies, exceeding their deductible limits on several policies. Through their captive policy's Deductible Reimbursement coverage, they were able to recover expenditures on their commercial deductibles.
Line of Coverage:  Deductible Reimbursement
This exposure was elected for coverage by the client under their captive policy. This resulted in a claim payment amount of approximately $99,000.
*Please note that each claim will undergo an independent investigation and thorough review process. Various components specific to the claim at hand will be assessed thoroughly to determine if the loss is covered by the policy.
20 Captive Myths
There are a number of myths about captive insurance, so we’re bringing you the truth about the 20 most common myths in the market.
1. Captives are only formed for tax reasons
One of the most common myths about captives is that they are only formed as tax shelters, to try and hide money from a government’s tax collector. However, this could not be further from the truth. A captive is primarily a risk management tool for a company, a way to better manage its risk. While there can be some cost savings when it comes to tax in some domiciles, captives are not formed just for tax reasons.
2. Captives are only formed in hard markets
A long-standing myth is that a captive is a short-term fix to market fluctuations. ..,

March 2020 Calendar
MAR 3:  World Wildlife Day
MAR 6: Employee Appreciation Day
MAR 8: Int’l Women’s Day & DST Begins
MAR 17:  St. Patrick’s Day
MAR 19: Spring Begins
MAR 23: National Puppy Day
MAR 29: Vietnam War Veterans Day
MAR 30: National Doctors’ Day
March is Observed as:
Women’s History Month
National Nutrition Month
TxCIA 7th Annual Conference
Registration is now open for the Texas Captive Insurance Association 7th Annual Conference, set for April 7–8, 2020, in Houston, Texas.

Conditional Licensing Boosts Delaware Captive Formations in 2019
Delaware licensed 56 captives in 2019, with most of the new captives licensed under a fast-track procedure.

Of those 56 new captives, 52 received conditional licenses. Under that procedure, which state lawmakers approved under 2018 legislation, the state insurance commissioner can issue conditional licenses allowing captives to operate immediately while their applications are reviewed by state captive regulators.

"Creating the conditional license has helped make Delaware one of the most attractive domiciles for captive insurance," Delaware Insurance Commissioner Trinidad Navarro said in a statement.

485 Underhill Blvd.
Suite 101
Syosset, NY 11791

Office: 1-833-US-CAPTIVE
Fax: 888-929-6565