I had grand ideas of the wealth and importance of Insurers of Ships in the City, and I began to think with awe, of having laid a young Insurer on his back, blackened his enterprising eye, and cut his responsible head open.
It appeared to me that the eggs from which young Insurers were hatched, were incubated in dust and heat, like the eggs of ostriches, judging from the places to which those incipient giants repaired on a Monday morning.
And, gentlemen, when the timbers of the Vessel of the State are unsound and the Man at the Helm is unskilful, would those great Marine Insurers
, who rank among our world-famed merchant- princes--would they insure her, gentlemen?
Basically, the amount of capital an insurer
is required to hold on any asset in most capital markets is based on the default characteristics of the asset or the relative likelihood that the asset will lose value, Easop said.
Aside from the Federal income tax issues of these insurance arrangements, it is also important to understand that the premiums paid to a foreign insurer
may be subject to Federal excise tax (FET) under Sec.
The third-largest property and casualty insurer
in California reported consolidated net income of $192.
A company must register as a class 1 insurer
if (a) it is wholly owned by one person and only writes risks of that person or (b) the insurer
is an affiliate of a group that only writes risks of the group or its own shareholders.
In 1985, the State of Florida passed a law providing that, on each malpractice insurance policy, a clause be added allowing the insurer
to settle a claim without the insured's permission.
signed off on the procedure, agreeing to $6,250 in coverage.
Only 17 percent report planning to leave their insurer
in the next five years, compared to 25 percent globally for non-life.
When personal lines policyholders relocate, agents move, too--to set up their clients with the same insurer
or a similar agent in the new neighborhood.
Procurement taxes are imposed (absent an exemption) on self-procured insurance when a licensed insurer
is not involved in the placement of the insurance coverage, resulting in the complete avoidance of payment of state premium taxes.