Internal Revenue Service building in Washington, D.C., on January 12, 2022. (Credit: Diego M. Radzinschi/ALM)
Insurer SRA 831(b) Admin, along with Drake Insurance Company and Drake Plastics, has filed a lawsuit against the U.S. Internal Revenue Service targeting what they assert is a multi-year pattern of regulatory overreach targeting the 831(b) captive insurance industry.
“When a government agency exercises its power without accountability or clarity, businesses have not only the right but the responsibility to push back,” Dustin Carlson, president of SRA 831(b) Admin, said in a release about the suit. “This lawsuit isn’t just about our company — it’s about standing up for the thousands of business owners who deserve fairness, transparency, and the ability to manage risk without fear of regulatory overreach.”
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.
Brittney Meredith-Miller
Brittney Meredith-Miller is assistant editor of PropertyCasualty360.com. She can be reached at [email protected].
