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Established to encourage the formation of small insurance companies, it offers an alternative risk-management solution that can supplement or even replace traditional insurance coverage. A micro-captive insurance company, as it pertains to Section 831(b) , is a captive insurance company – an insurance company entirely owned and operated by ...
Meanwhile, Congress amended the IRC several times again to both ensure that the prohibition on borrowing (on a deductible basis) to fund insurance acquisitions was clear and to deny the tax-free nature of death benefits to corporate employer in some situations (e.g., if the insured was not provided with adequate advance notice and an ...
As a result, a state may not "deem" that an employee benefit plan is an insurance plan in an effort to sidestep preemption if the benefit plan would not otherwise meet the requirements as an insurance company or contract. The "deemer" clause therefore restricts the use of the "savings" clause to conventionally insured employee benefit plans. [20]
Insurance companies often use credit scores to determine car insurance rates. ... $25,000 but you still owe $30,000 on your loan, gap insurance would cover that $5,000 difference if your car is ...
Homeowners insurance premiums rose 10.7% on average for new policies in the first half of 2024 compared to the last half of the previous year, according to insurance marketplace Matic.
Tyler Perry is opening up about the devastation of the Los Angeles wildfires — and criticizing insurance companies for the role they played as people lost their homes. In a post shared on his ...
In 1820, there were 17 stock life insurance companies in the state of New York, many of which would subsequently fail. Between 1870 and 1872, 33 US life insurance companies failed, in part fueled by bad practices and incidents such as the Great Chicago Fire of 1871. 3,800 property-liability and 2,270 life insurance companies were operating in ...
The state agency that backs up policies held by insolvent companies, the Louisiana Insurance Guaranty Association, must now cover the failed companies’ unpaid claims and refund their customers ...