The IRS declared that in a limited partnership, the general partner is the insured, while in a multimember limited liability company, the LLC is the insured. If there is more than one general
What happens when legislature enacts an insurance reform bill that results in rates being cut by 50 percent over a five-year period? Lawmakers leave the line of insurance alone. Such was the case in
Agency contract payments are ordinary incomeInsurance agents enter into contracts that allow for payments of commissions on renewals after the contract is terminated. Agents believe they own
With a responsive government, a solid infrastructure, a great location and $444 billion total assets--$72 billion captive-related--Bermuda's insurance industry, the "gem in Bermuda's crown," is still
While risk management departments are good at what they have always done--insurance buying, contract management, loss control, safety management, actuarial estimates, claims management, policy
A look at National Underwriter's Dec. 31, 2007, "Top 10 Insurance Stories" reveals two stories that are positive, one or two that are neutral, and the rest that are negative.
WASHINGTON--U.S. Sen. Hillary Clinton's announcement that if elected president she would eliminate foreign insurers' "unfair" tax advantage is based on a "myth," said a Bermuda insurers' representative
A guidance to be issued by the Internal Revenue Service next week will require payment of an excise tax on property-casualty insurance premiums every time the money is ceded to foreign insurers and