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Vice President of Federal and Political Affairs
Small Mutual Inflation Update [F]
NAMIC strongly supports H.R. 1788, the Small Mutual Inflation Update, which changes Internal Revenue Code Section 831(b)(2) to reflect the inflationary impact since its enactment 29 years ago. There are many small property/casualty insurers organized as mutual companies, originally formed to offer insurance coverage to specific groups, often in rural areas. This expansion will help such small mutual companies offer more coverage to consumers. The bill’s lead sponsors Rep. Erik Paulsen (R-MN) and Ron Kind (D-WI), have been supportive of the smaller non-life companies for many Congressional sessions in this vein and are working to ensure passage in the 114th Congress.
Posted: Monday, July 09, 2012 1:37:34 PM. Modified: Tuesday, October 06, 2015 1:23:42 PM.
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