Two trade associations have joined forces in sending a mass e-mail to members of the captive insurance industry warning them of an Internal Revenue Service proposal that would eliminate tax benefits for some sectors.
Molly Lambert, Vermont Captive Insurance Association president, told National Underwriter that VCIA and the Captive Insurance Companies Association are “meeting with the best minds in the industry to ensure a thorough analysis of the ramifications of the proposed regulation.”
She continued, “Our initial impression is that if this regulation is finalized, it will have a significant impact on certain segments of captive insurance companies. We are developing a response to the proposed regulation and will develop a case that will be in the best interests of our captive insurers.”
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