Captive Insurers

Many banks own captive insurance companies to insure their own risks. A section of the Dodd-Frank Act, the Nonadmitted and Reinsurance Reform Act (NRRA), is being broadly interpreted as applying to captive insurance companies. Such an interpretation could result in a greater tax liability for the bank in its home state.

ABA's Position 

ABA supports the enactment of an amendment to the Dodd-Frank Act to fix tax ambiguity for captives that appears in the NRRA.​

 

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