IRS, Treasury Issue Notice to Stop Use of Captives to Avoid Taxes Under Small Mutual Inflation Update

November 7, 2016 The Internal Revenue Service and Treasury Department issued a new classification for certain transactions Nov. 1 to better ensure that taxpayers could not use captives to avoid taxation through the Small Mutual... Read more

Paulsen Named NAMIC Federal Legislator of the Year

September 28, 2016 VANCOUVER, Canada (Sept. 28, 2016) -- The National Association of Mutual Insurance Companies named Rep. Erik Paulsen, R-Minn., as the association's Federal Legislator of the Year for his work to win passage of... Read more

NAMIC to Hold Webinar on Implementation of Small Mutual Inflationary Update

February 29, 2016 One of NAMIC’s top legislative wins in 2015 was the passage of the Small Mutual Inflation Update, providing an update to Section 831(b) of the Internal Revenue Code. The provision, passed in 1986, allowed property/casualty insurers with direct written a... Read more

In the Nation: Small Mutual Inflation Update Success; NAMIC Cheers Passage of Policyholder Protection Act; FSOC Members Face House Financial Services Committee

January 15, 2016 NAMIC secured a major victory as a legislative priority for small mutual insurers was passed as part of the 2016 omnibus spending bill. NAMIC estimates possibly thousands of Congressional Contact Program meetings had been conducted in order to encourage... Read more

NAMIC Praises Passage of Small Insurer Update in Tax Extenders Legislation

December 18, 2015 The National Association of Mutual Insurance Companies praised passage today of the Small Mutual Inflation Update, a provision to help small insurers grow with their communities and better serve their policyholders. Read more

NAMIC Secures Major Industry Victories in Historic Legislative Package

December 16, 2015 As we have been reporting over the last several weeks, NAMIC has been in the thick of negotiations over funding the government and a potential package of updated tax provisions, attempting to have several of our legislative priorities attached and passe... Read more

NAMIC Set to Achieve a Top Legislative Priority as Small Mutual Inflationary Tax Update to be Voted on This Week

December 14, 2015 The Small Mutual Inflation Update – one of NAMIC’s top federal legislative priorities – is included in one of the two pieces of legislation keeping members of Congress from going home for the holidays, and it is widely expected to pass before Congress a... Read more

NAMIC Working With Congress to Include Small Mutual Inflationary Update in Tax Extenders Package

December 7, 2015 The Small Mutual Inflation Update, a top NAMIC legislative priority, may be included in a legislative package that would renew a number of expiring business tax provisions that could be voted on this week. A deal on the package started to take shape dur... Read more

Small Mutual Tax Legislation Slated for House Introduction

April 13, 2015 The U.S. House of Representatives expects to introduce legislation this week to update a section in the 1986 tax code that will provide aid and foster economic growth for small mutual property/casualty companies. The Small Mutual Inflation Update, intro... Read more

Senate Finance Committee to Vote on Small Mutual Inflation Update

February 9, 2015 The Small Mutual Inflation Update has been included among a number of bills set to be voted on by the Senate Finance Committee during a Feb. 11 markup session. Sponsored by Sens. Chuck Grassley, R-Iowa, and Joe Donnelly, D-Ind., the legislation is of on... Read more

Tax Efforts Crumble, One-Year Clean Extension Expected

December 15, 2014 It's game over for nearly every piece of legislation still languishing in these final hours of the 113th Congress, but enactment appears possible for a plan to retroactively extend more than 50 temporary tax provisions known as “extenders.” Congress has... Read more

Congress Set to Finish TRIA, Several Other Property/Casualty Industry Issues This Week

December 8, 2014 As the lame duck session of the 113th Congress winds to a close Dec. 12, lawmakers will be taking action on legislation to reauthorize the Terrorism Risk Insurance Program. In the last several days, negotiations between the House and the Senate on what ... Read more

Busy Lame Duck for Property/Casualty Industry

November 24, 2014 Although the headlines have been dominated by the president’s recent executive action on immigration, there has been a lot happening in Washington, D.C., since the Nov. 4 elections. Upon its return following Veteran’s Day, Congress was in session for tw... Read more

Small Mutual Inflation Update Introduced in the House

May 9, 2014 The Small Mutual Inflation Update, a top legislative priority for NAMIC in Washington, was introduced in the House May 9 by Reps. Erik Paulsen, R-Minn., Ron Kind, D-Wis., and Aaron Schock, R-Ill. The bill, which does not yet have an official number, wou... Read more

A Flurry of Activity before Congress Adjourns, but Unfinished Business Remains

January 3, 2013 In a year where Congress was considered extremely unproductive, lawmakers were able to come together for a last minute surge of legislative activity that saw the “fiscal cliff” averted and other issues important to NAMIC members addressed, while setting... Read more