OFFICIAL NEWSLETTER OF NCCIA

VOLUME 7 NUMBER 3
March 2021

No SCOTUS Ruling For The CIC Services v. IRS In March

(Southern Pines)…..Speculation that the US Supreme Court would issue it’s ruling in the CIC Services v. Internal Revenue Service Case in March proved to be unfounded through March 29. The Court has many options for releasing its opinions and court watchers still expect the opinion to be issued in the near future in this case, which is being watched closely by the captive insurance industry. A Special Edition of the NEWSLETTER will bring you word of the ruling when it is handed down.

Amendments To The NC Captive Practice Act Have Been Introduced In The NC Senate

As you know from information in last Thursday’s (March 25th) Special Edition of the NEWSLETTER, S-347, Amendments to the NC Captive Practice Act have been introduced in the Senate. The bills primary sponsor (guides the bill through the legislative process) is Senator Chuck Edwards (R-Henderson) has told the NEWSLETTER that he expects to start to move the legislation in the next several weeks. A Co-Chair of the Senate Commerce & Insurance Committee he is instrumental in determining how bills move through the committee. S-347 is currently in his committee. In his private life Edwards is a McDonalds franchise owner. Chair of NCCIA Lea Riddle said on the bills introduction, “We are pleased to be working with Senator Edwards to pass this legislation strengthening the NC Captive Insurance Act. Along with Senator’s Johnson and McInnis we have three of the most able legislators in the General Assembly working for passage of the legislation”.

The “In Person” NCCIA Annual Conference is on go for August 30 through September 1, 2021

at Durham’s Washington Duke Inn and Golf Club on the campus of Duke University. Tired of looking at the same four walls? Had all the video conferences you need for a lifetime? It has been over a year since the industry has been able to have an in-person meeting on the east coast. So put the dates on your calendar. Registration and hotel reservations will open for “early bird” registrants in mid-April. The meeting will be in compliance with any Covid related regulations that may in effect at that time. Hopefully none!

Sponsorships Still Available For The 2021 Annual NCCIA Conference

There are a limited number of sponsorship and exhibit opportunities still available for the Annual Conference. If you are potentially interested in one of these opportunities please call Diane Waltman in the NCCIA Office at 910.684.8379. We are expecting a larger than average attendance due to the year plus long shutdown making the conference an outstanding venue to get your company in front of the 4th largest domestic domicile in the United States.

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