CICA Seeks To Beat Tax Bill

The Captive Insurance Companies Association is trying to drum up opposition among risk managers to a proposed federal bill, H.R. 1755, which would increase taxes on U.S. subsidiaries of some foreign-based insurers that reinsure some risks with their parent companies.

Introduced by Reps. Nancy Johnson, R-Conn., and Richard Neal, D-Mass., the bill would require U.S. subsidiaries not subject to U.S. tax to defer the deduction for premiums paid for reinsurance until the time of a loss recovery. Chubb and The Hartford have supported this and similar bills in the past. (See NU, May 14, page 1.)

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • 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?


NOT FOR REPRINT

© 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.

 

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.