Business & Corporate
Our Mini-Theme: Captive Insurance
In 2002, the IRS made rulings (Rev. Rulings 2002-89, 90, and 91) which were to result in a cataclysmic change to the way U.S. businesses obtain insurance. These 2002 rulings essentially legitimized for tax purposes the concept of the in-house insurance company, commonly referred to as a "captive insurance company."