Insurance companies (81 - 90 of 103 items)
Current Problems in the Availability of Insurance
129567: Mar 4, 1986
GAO discussed its 1979 report on issues and needed improvements in state regulation of the insurance industry. GAO found that insurance availability was affected by: (1) redlining, which is the arbitrary denial of insurance to everyone living in a particular neighborhood; (2) subjective underwriting practices which could result in consumers being denied essential insurance because of unsubstantiat...
Taxation of the Insurance Industry
129132: Feb 20, 1986
A speech was given presenting GAO views on: (1) the taxation of the insurance industry; (2) property and casualty insurance companies' pricing strategies; (3) the impact of certain current tax provisions on the industry; and (4) the consolidation of property/casualty companies with parent companies that are not in the insurance business. Because the ability to offset underwriting and investment in...
Tax Policy: Information on the Stock and Mutual Segments of the Life Insurance Industry
GGD-86-31FS: Published: Dec 12, 1985. Publicly Released: Dec 12, 1985.
Pursuant to a congressional request, GAO reviewed statistical data on stock and mutual life insurance companies concerning insurance in force, insurance issued, investment yields, and taxes paid.GAO found that: (1) from 1980 through 1984, mutual and stock insurance companies increased their insurance in force by 40 and 80 percent, respectively; (2) mutual companies increased their net gain after t...
Tax Administration: Information on How the Property/Casualty Insurance Industry Is Taxed
GGD-86-16FS: Published: Oct 16, 1985. Publicly Released: Oct 16, 1985.
In response to a congressional request, GAO presented charts containing information on the taxation of the property/casualty insurance industry.The charts show the industry's current tax situation, the market share held by top company groups within the industry, and expected taxes generated by various revenue proposals. The data used to construct the charts came from publicly available information...
The Taxation of the Property/Casualty Insurance Industry
128019: Oct 1, 1985
Testimony was given on the taxation of the property/casualty insurance industry. GAO found that, as a result of certain tax advantages: (1) many property/casualty insurance companies have not paid federal income taxes for a number of years and have qualified for refunds or have been able to carry-back or carry-forward losses for tax purposes; (2) insurance companies can exclude interest income fro...
[Taxation of Property/Casualty Insurance Industry]
128329: Aug 20, 1985
GAO views on the taxation of the property and casualty insurance industry were given. GAO believes that Congress should reexamine several aspects of the tax code dealing with property and casualty insurance companies because, although they had about $28 billion in underwriting losses from 1974 through 1983, they had about $100 billion in investment gains during that period, resulting in a total ga...
Congress Should Consider Changing Federal Income Taxation of the Property/Casualty Insurance Industry
GGD-85-10: Published: Mar 25, 1985. Publicly Released: Mar 25, 1985.
GAO examined the provisions of the Internal Revenue Code which are used to determine the taxable income of the property and casualty insurance industry. These companies are similar to other companies in that the premium income is analogous to the sales receipts; however, a difference lies in claim payments which may not be made until a future year, while the premiums are received currently. In exa...
Taxation of the U.S. Property/Casualty Insurance Industry
121657: Jun 13, 1983
Testimony was given concerning GAO work on tax policy issues pertaining to the property and casualty insurance industry. GAO has found three areas where tax code treatment for insurance companies differs in important ways from the concept of economic income. Because of the definition of taxable income that is currently used, the tax burden of property and casualty companies is lower than it otherw...
Taxation of the U.S. Life Insurance Industry
121314: May 10, 1983
Testimony was given on the taxation of the life insurance industry. The Tax Equity and Fiscal Responsibility Act changed some facets of the tax treatment of the industry, but many of the provisions included in this legislation will expire at the end of the year. GAO provided information to aid the congressional task of arriving at suitable permanent tax legislation for the industry. The act provid...
Modified Coinsurance and Its Use by Some Life Insurance Companies To Reduce Taxes
PAD-82-33: Published: Apr 14, 1982. Publicly Released: Apr 14, 1982.
GAO was asked to analyze the characteristics of modified coinsurance transactions and the extent of their use by life insurance companies. Modified coinsurance is an arrangement in which insurance companies share risk. By entering into these arrangements, some insurance companies, primarily large mutual companies, are able to convert their investment income, on which they pay tax, into underwritin...