April 2020 Edition
We Remain Open for Business.

As we monitor the evolving COVID-19 developments, we are reaching out to our clients and their advisors to reassure everyone that we remain committed to providing ongoing Best-in-Class captive services.
To help ensure the health and safety of our team, we will be operating in a hybrid remote work environment, allowing our business operations to continue as usual.
During this timeframe, we ask that everyone, please utilize email as the preferred method of communicating with us. However, our main phone line will remain open and active for the foreseeable future. If you have any questions related to general Captive matters, broad coverage questions, future coverage options, etc., you can contact me directly at 516-359-8382.
If you have any questions about implementing a Captive, call me directly or visit our  Captive 101 section  on our website.

We appreciate your business!
Larry Papola
Lawrence J. Papola, Jr.
Captive Claim Highlight
Client Profile
Industry:   Health & Beauty
Specialty:   Hair Salon Franchise
Location :   Texas
Claim Information
Description: One of our Insureds released an employee. Shortly following this event, the disgruntled employee filed suit against our Insured claiming wrongful termination. Through their Oxford Actual Net Loss policy's Employment Practices Liability coverage, they were able to recoup their loss due to claims expenses.
Line of Coverage:   Employment Practices Liability
This exposure was elected for coverage by the client under Oxford’s policy. This resulted in a claim payment amount of approximately $45,000.
*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.
The Value of Captive Insurance
During the Outbreak
A type of private insurance that is used by wealthy business owners to cover unlikely risks and that has been challenged by the Internal Revenue Service is proving to be beneficial as the coronavirus pandemic shuts down local economies.

The structure, known as a small captive insurance, allows business owners to self-insure against unlikely but costly risks. Because captive insurance has also created incentives for tax avoidance, the I.R.S. has put it on its “dirty dozen” list of the most abusive tax practices since 2014.

The criticism against small captive insurance vehicles has been that wealthy... 
April 2020 Calendar
APR 1:  April Fool’s
APR 2: Autism Awareness
APR 7:  World Health Day
APR 15: No Tax Day!
April 10: Good Friday
APR 12:  Easter
APR 22: Earth & Administrative Professionals Day
APR 24: Arbor Day
April is Observed as:
National Poetry Month
National Autism Awareness
National Donate Life Month
TxCIA 7th Annual Conference
Important Update:
2020 Conference Postponed
Given the ongoing uncertainty created by the COVID-19 pandemic, as well as current CDC guidance regarding large gatherings, TxCIA's Board of Directors has decided to postpone the 2020 Conference. The event will be rescheduled for later in the year. We are currently targeting dates within a September/October timeframe, with exact dates to be announced as soon as possible.
Current conference registrants will receive additional information regarding the status of their registrations.

485 Underhill Blvd.
Suite 101
Syosset, NY 11791

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