The two largest U.S. captive insurance trade groups announced they are banding together in a coalition to combat a proposed Internal Revenue regulation they say would increase their tax burden.
Captive Insurance Companies Association (CICA) and the Vermont Captive Insurance Association (VCIA) said they have formed the Coalition for Fairness to Captive Insurers (CFCI), to develop a coordinated response to an IRS rule that would “significantly alter the landscape for captive insurers should it become final.”
The organizations said in a statement that achieving the withdrawal of the proposal by the IRS is “critical to their missions of promoting the strength of the captive insurance industry and the members that they serve.”
Recommended For You
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:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
