Foreign Account Tax Compliance Act (FATCA) is a U.S. law designed to prevent tax evasion by U.S. taxpayers through the use of offshore accounts and companies. FATCA is generally focused on “foreign financial institutions” such as banks, custodians, trust companies, life insurance companies and asset management firms. However, FATCA also affects insurance clients, insurance brokers and insurance carriers.

FATCA is a complex law. Please consult your tax advisor to determine how FATCA may apply to your situation. In order to assist our clients and their obligations under FATCA legislation we are making available our form for downloading:

Alesco Risk Management Services Limited

For any FATCA related questions and any issues relating to FATCA forms please contact us.

Latest News & Insights

Insight

10 Jun 2020

Energy Market Update June 2020

In our latest update, we delve into the outlook, key trends and losses affecting upstream, downstream, midstream, renewables and power insurance sectors including the sharp decrease in oil prices and its impact on various industries, as well as examining the continued impact of COVID-19 and how industries are adapting.

We hope that you find this update useful and insightful and of course, please don’t hesitate to get in touch if you wish to discuss in greater detail.


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Insight

26 May 2020

Marine : The View Market Update May 2020

Not too much has changed since our Marine P&I April update, as the COVID-19 pandemic continues to cause disruption and uncertainty across the globe. The crisis has taken its toll on the Marine sector as a whole and arguably crew members being hit the hardest of all. In times of hardship, it’s important to reflect on the past and also the strides the industry continues to make.

We caught up with a familiar face for many in the P&I world – former Managing Director of North P&I Club, Rodney Eccleston, as he shares how his most recent endeavour has been working in the sector as well as his views on the current situation.

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Insight

24 Apr 2020

Marine : The View Market Update April 2020

In our latest edition of the View, our Marine PI team gives you their take on the uncertainty of the times, as the world and Marine industry shift their focus towards COVID-19 and the effects of a global lock-down. With this in mind, our Alesco Marine specialists have collaborated with three clubs: The Standard P&I Club, Steamship Insurance Management Services Ltd and The North of England P&I Association Limited - to see how they are adapting to the world in which we find ourselves in.

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