top of page
Search

© 2024 by Reinsurance Specialties   

A privately owned insurance company (POIC) is a closely held insurance company established primarily to insure the uninsured and under-insured risks of a company and affiliated groups. Insureds are involved in operations which include: underwriting, policy placement, claim decisions, investments and annual strategies for the insurance company.

 

Private insurance and alternative risk transfer planning involves sophisticated insurance and risk management planning (e.g., actuarially based policies), company formation with select domiciling entities, regulatory and compliance documents, and a wide range of accounting, financial and taxation specialties. This planning is specific to each set of circumstances. It is not appropriate to apply general information described herein to any particular situation. The formation of a private insurance platform is a part of a client's implementation of alternative risk transfer planning. As a result, this planning should not be undertaken without a competent team of professionals who have extensive experience in private insurance and alternative risk transfer planning. Prospective Clients and any Interested Party should seek the advice of knowledgeable legal counsel and tax professionals to answer any questions related to their specific needs. The information herein is general in nature and may not be relied on for any specific use. The content herein (including graphics) does not purport to show all details and complexity in establishing a compliant private insurance platform or alternative risk transfer program. Reinsurance Specialties (and/or its affiliates) is not engaged in rendering legal services or advice. Disclosure under IRS Circular 230: the information and services offered are not intended to and do not comply with the US Treasury Department's technical requirements for a formal legal opinion and cannot be used by a taxpayer to avoid any penalty that might be imposed on a taxpayer. Nothing herein may be used in promoting, marketing or recommending any one specific investment plan or arrangement.

​

bottom of page