After the IRS lost its $600+ million challenge against a captive owned by United Parcel Service in 2001, the Service resigned itself to the legitimacy of captive insurance companies and soon thereafter abandoned its economic family challenges to captives. The IRS has since issued a great deal of guidance to assist captive owners in their proper structuring, management and reporting.
This website also supports the book Adkisson's Captive Insurance Companies: An Introduction to Captives, Closely-Held Insurance Companies and Risk Retention Groups written by Jay Adkisson. The author has been active in the alternative risk management sector since 1995, has been forming captive insurance companies since 1998, and for several years was the owner of a licensed captive insurance management firm in the British Virgin Islands.
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