Delaware Expands Risk Options With Series Captives
At the end of 2015, Congress amended the internal revenue code. This raised the cap on small insurance companies to 1.2 million of untaxed income. However, in order to take the § 831 B election, captive programs must take a risk diversification test or ownership test to qualify.
Andrew Rennick explains that the Series Captive Insurance company is now its own category of captive. This has allowed Delaware to become more comfortable licensing many different types of insurance programs through a series limit liability captive.