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A federal judge just ruled against the IRS on micro-captive cyber insurance, the tool businesses use to fund cyber losses their policies won't cover. Dustin Carlson, a named plaintiff in the case, returns to explain what changed and what's still in legal limbo.
Carlson, president of SRA 831(b) Admin, sits down with Executive Editor Martin Hinton to break down the Drake Plastics v. IRS ruling, the IRS's now-discredited evidence for its "listed transaction" label, and the appeal that could send this all the way to the Supreme Court. They also get into where AI liability exclusions are quietly opening new gaps in standard business coverage, and why a tax-court fight in Texas should matter to anyone buying cyber insurance.
What you'll hear:
- What an 831(b) plan actually is, in plain English
- Inside the Drake Plastics v. IRS lawsuit and the judge's ruling
- Why the IRS's evidence didn't hold up in court
- What's next: the appeal, the circuit split, a possible Supreme Court fight
- How AI liability exclusions are widening the cyber coverage gap
- The real financial cost of a cyber breach for small business
Read the full article: https://cyberinsurancenews.org/micro-captive-cyber-insurance-coverage-gap/
Connect with Dustin Carlson: https://www.831b.com
Cyber Insurance News & Information covers the cyber insurance market, claims, regulation, and the people shaping it. New episodes weekly.
