Insurers and trade groups are far from unanimous in reacting to the New York regulatory proposal requiring insurers to set up special hurricane reserve funds, regardless of the tax implications.
The concept put forward last week by New York Insurance Superintendent Eric Dinallo has some offering support, some opposition, and some on the fence.
In announcing his proposed regulation, which has yet to be put into final draft form, Mr. Dinallo forecasted correctly that some would oppose such reserves unless they are tax deferred.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
- Educational webcasts, resources from industry leaders, and informative newsletters.
- Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
