Special Purpose Vehicle: A ceding insurer
establishes a wholly owned special purpose financial captive insurance vehicle (the "captive reinsurer") in a state that provides for it such as South Carolina, and capitalizes it with an amount necessary to support the reinsurer's operations.
Modernizing insurance regulation, including reforming oversight of insurer
investments, will result in healthy, robust insurance markets that benefit insurance consumers," said Drew Cantor, AIA vice president and director, federal affairs, in a statement.
4371 imposes a FET on certain premiums paid to a foreign insurer
not engaged in a U.
A company must register as a class 2 insurer
if it is wholly owned by at least two unrelated persons (i.
In essence, the court stated that the agreement granted the insurer
the right to settle within the policy limits, regardless of the merits of the claims.
In another ease, a private insurer
questioned the medical validity of admitting to a hospital a man suffering from leukemia who had developed a 103-degree fever and had a dangerously low white blood count.
Sierra Health has turned a physician practice into the largest health insurer
in Nevada with its unusual approach of owning its own medical facilities and by making its home in one of the nation's largest booming markets.
Procurement taxes are imposed (absent an exemption) on self-procured insurance when a licensed insurer
is not involved in the placement of the insurance coverage, resulting in the complete avoidance of payment of state premium taxes.
prefer to fund developers with whom they or another major insurer
have existing relationships.
Unlike X, however, he claims that his conduct is morally right--even though, unlike X, he is not a "stranger" to Z since the insurer
profits from the consumer, and even though, unlike X, he in essence enabled Y to lay the trip wire by underwriting the effort.
67 million jury award (including $5 million in punitive damages) to a former chiropractor and sternly warned the insurer
against future violations.
92-39, which required a foreign insurer
or reinsurer to obtain a certificate of foreign residence from a local tax authority.