As you probably know, AZ has now reached and exceeded the century mark for licenses issued--and we did it in less than 5 years!  Thank you all, again, for your help and support in elevating us to this level of distinction.  We are too big to ignore and that should translate to even more success in attracting captives, sponsors and attendees at our conference, service providers opening or expanding local offices, etc.

AzCIA Joins Coalition for Fairness to Captive Insurers The AzCIA Board of Directors has authorized it to join the Coalition for Fairness to Captive Insurers (CFCI), including a financial contribution. The CFCI is chaired by Molly Lambert of the VCIA and Dennis Harwick of CICA. It has been formed in response to the IRS's proposed revisions to section 1.1502-13 of its regulations. The proposed revisions would change the long-standing tax treatment of domestic captive insurance companies which are part of the same consolidated tax return group as the premium payer. They would defer the tax deduction for an incurred loss arising from related party business until the loss is actually paid. In effect, this change would eliminate the present deduction for discounted loss reserves of the captive, and instead treat the transaction as non-insurance for tax purposes. It appears the revision is proposed merely to increase tax revenue, and not as the result of any alleged abuse. It would primarily impact pure captives, not group captives. The CFCI comprises nearly 50 members at this point, including CICA, state captive insurance associations, and captive service providers. It has engaged a Washington DC-based lobbyist, Jim McIntyre, to spearhead the lobbying effort. A conference call of CFCI members was held on December 10, 2007 to discuss the issues and outline an initial strategy. The key elements of the strategy at this point are: