“…..Via Christi’s application comes in the wake of a spurt of activity in the captive employee benefits funding arena.”
Via Christi’s application comes in the wake of a spurt of activity in the captive employee benefits funding arena.
Last month, Google Inc.filed an application with the Labor Department for approval to fund benefit risks through its Hawaii captive insurer, and in October Microsoft Corp. sought permission to use the Vermont branch of its Bermuda captive to reinsure life insurance and accidental death and dismemberment policies. Microsoft already uses the Vermont branch to reinsure long-term disability coverage.
And last week, the Labor Department gave final authorization to Dow Corning Corp.to fund basic life insurance risks through its Washington-based captive. In 2009, the Labor Department gave Dow Corning permission to fund certain other types of life insurance coverage through the captive.