The legislative minefield
Article Abstract:
The insurance industry is faced with three legislative issues which will impact on future business and finance. Insurer solvency regulation will face increasing control by Congress and it is feared that too much federal control could destabilize the industry. Reform of the McCarran-Ferguson Act will lead to increased competition from banks for underwriting business. Finally, legislation approving the amortization of customer renewal lists will relieve some of the financial burden facing insurance agents.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1992
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Exclusive agents join the battle
Article Abstract:
Ray Rogers, pres of the National Association of State Farm Agents, believes that allowing banks to sell insurance is an unwise policy and is particularly detrimental to captive insurance agents. Captive agents, who sell policies for only one insurer, are unable to offer their expertise or their businesses to banks, Rogers says. Captive agents plan to begin lobbying federal lawmakers in 1997 through the Coalition of Exclusive Agent Associations.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1997
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Annuity policies for attorneys' fees result in income recognition
Article Abstract:
An annuity policy paid to an attorney is considered to be taxable compensation according to the latest ruling from the Internal Revenue Service (IRS). In several cases, the IRS agreed that an insurer paying a plaintiff's attorney with an annuity may transfer the obligation to a third insurer. Such a transfer is then considered taxable when the transfer is completed and is mostly vested.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1992
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