In recent years, micro-captive insurance companies have come under tightened scrutiny from the IRS, igniting a fierce debate surrounding their legitimacy and tax deferral strategies. Although the 831(b) election was historically intended to support small mutual insurers in building financial
Recent legislative efforts spearheaded by Chairman Tim Scott (R-S.C.) aim to reinforce the authority of state regulators in overseeing the insurance industry, amid concerns over federal overreach. The initiative is embodied in the Business of Insurance Regulatory Reform Act, introduced in the U.S.
The intricate world of international contracts and insurance policies comes front and center as Travelers Property Casualty Company of America grapples with its potential obligations to the Wellons Group, Inc. A high-stakes $26 million lawsuit initiated by Tolko Industries in Canada has thrust this
In a significant legal development, Erie Insurance has emerged victorious in a landmark underinsured motorist (UIM) case revolving around the contentious "regular use" exclusion in Pennsylvania. This ruling, upheld by the state's Superior Court, sends a reverberating message about insurance policy
In today's rapidly evolving insurance landscape, companies are constantly seeking innovative ways to better serve their customers while keeping pace with technological advancements. Simon Glairy, an expert in insurance and Insurtech, shares his insights on how companies like The General are
The advancement of generative AI technology has been a headline story, with its potential applications causing both excitement and trepidation among industries worldwide. As businesses increasingly adopt these advanced technologies to innovate and drive efficiency, they face an equally pressing
