Under the IRS' ruling the exemption applies only to nonlife insurance companies with "gross receipts" for the taxable year that do not exceed $600,000, if premiums make up more than 50 percent of gros
The clarification relates to the tax exemption for small "farm mutual" property and casualty insurance companies, which have traditionally been formed by groups of farmers to provide coverage for thei
At press time, we received this special report from our sister publication which gives the latest update on the devastation in Florida and its impact on insureds and insurers alike. (See our related
This article was adapted from Mr. Jones' "University Day" presentation at this year's annual convention of the American Association of Managing General Agents. The event took place in May in Orlando, Fla.) MANY businesses have become comfortable
This article was adapted from Mr. Jones' "University Day" presentation at this year's annual convention of the American Association of Managing General Agents. The event took place in May in Orlando, Fla.) MANY businesses have become comfortable
With rescue operations coming to a close and recovery efforts underway all along the battered Gulf Coast, experts are still unsure as to what the insured damages from Hurricane Katrina will be.
IRS Seeks Feedback On Captive TaxationLoans to captive parent, risk homogeneity, cells and finite insurance examinedThe federal Internal Revenue Service is seeking comments from ...
At many property and casualty companies, structured settlements have gained a solid following. Yet, many claim professionals still hesitate to incorporate them into negotiations.
Washington--Gulf Coast homeowners affected by Hurricane Katrina could increase their tax-deductible casualty losses under bipartisan legislation introduced yesterday in the Senate.The measure, sponsored by ...
Katrina Tax Relief Deal ExpectedWashington--Tax relief for homeowners in the Gulf Coast region affected by Hurricane Katrina could be approved and on the president's ...