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Guernsey considering incorporated cell units.(Spotlight: Self-Insurance & Captive Management)
Business Insurance
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March 6, 2006|
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COPYRIGHT 2006 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group.
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Byline: SARAH VEYSEY
ST. PETER PORT, Guernsey-The U.K. crown dependency of Guernsey is set to introduce legislation that would pave the way for so-called "incorporated cell companies,'' a version of the protected cell company structure first introduced on the island in 1997.
Guernsey is likely to introduce legislation shortly that would allow the creation of ICCs, a type of structure similar to a PCC but within which each cell is a separately incorporated company with its own legal identity.
Cells within an ICC structure would be able to contract ...
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