Business Services Industry
Turks & Caicos sees little impact from IRS actions.(Spotlight: Self-Insurance Captive Management)
Business Insurance, March, 2004
Byline: DOUGLAS McLEOD GRAND TURK, Turks & Caicos Islands-The Turks & Caicos Islands' captive industry saw steady growth last year and is expected to continue expanding slowly in 2004. The domicile saw a net increase of 16 captives last year, bringing its total to 159 insurers at year's end, according to Albert P.
Smith, the islands' superintendent of insurance. The total does not include any of the more than 2,000 credit life insurers licensed in the Turks & Caicos Islands. As the domicile looks to grow further, medical malpractice captives have been targeted as a potential source of new business, Mr. Smith noted. Meanwhile, after several years of holding license fees steady, the Turks & Caicos government is considering possible increases, including...
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