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The McCarran–Ferguson Act, 15 U.S.C. §§ 1011-1015, is a United States federal law that exempts the business of insurance from most federal regulation, including federal antitrust laws to a limited extent. The 79th Congress passed the McCarran–Ferguson Act in 1945 after the Supreme Court ruled in United States v.
Umbrella insurance is a form of liability insurance that provides coverage when liability exceeds the limits of other insurance policies, such as auto insurance or homeowners insurance. It can also act as primary insurance for losses not covered by those underlying policies, distinguishing it from excess insurance , which typically only extends ...
Greater opportunity for funding: According to Karla Dennis, an Enrolled Tax Agent and CEO and Founder of KDA, Inc., tax-exempt status opens up access to grants, government funding, and tax ...
Tax exemption is the reduction or removal of a liability to make a compulsory payment that would otherwise be imposed by a ruling power upon persons, property, income, or transactions. Tax-exempt status may provide complete relief from taxes, reduced rates, or tax on only a portion of items.
An umbrella policy is a form of personal liability insurance that is designed to extend the standard coverage provided by your underlying policies — including your home insurance policy, renters ...
Umbrella insurance extends your liability coverage. Here’s how to buy it.
An "exempt commercial purchaser" is defined as any person purchasing commercial insurance that, at the time of placement, meets the following requirements: (A) the person employs or retains a qualified risk manager to negotiate insurance coverage; (B) the person has paid aggregate nationwide commercial property and casualty insurance premiums ...
[3] [4] In other words, the micro-captive's underwriting income – the difference between earned premiums and incurred losses – is exempt from federal income tax. [5] As of 2020, to qualify for 831(b) status, the insurance company's written premium income must not exceed $2.3 million in a given year, a threshold that is indexed for inflation.