Journal article
The special purpose reinsurance vehicle (SPRV) experiment / Reply
Journal of insurance regulation, Vol.19(4), p.656
07/01/2001
Abstract
The Reinsurance Association of America (RAA) opposes adoption of the NAIC Special Purpose Reinsurance Vehicle Model Act. The basis for this opposition is that the law creates a new class of reinsurance company that is: 1. exempt from all insurance regulation (unless specifically included in the model act); and 2. designed to operate with an exemption from federal income tax. The RAA believes the NAIC model creates a new class of reinsurer that will operate with regulatory and tax advantages that are not afforded to existing US licensed and taxed reinsurance companies. This paper reviews both the tax and regulatory inequities and offers a short critique of a paper on Special Purpose Reinsurance Vehicles by Robert Klein, Martin Grace and Richard Phillips. A reply to the RAA's criticism from Klein, Grace and Phillps is presented
Details
- Title: Subtitle
- The special purpose reinsurance vehicle (SPRV) experiment / Reply
- Creators
- Martin GraceRobert KleinRichard Phillips
- Resource Type
- Journal article
- Publication Details
- Journal of insurance regulation, Vol.19(4), p.656
- Publisher
- National Association of Insurance Commissioners
- ISSN
- 0736-248X
- Language
- English
- Date published
- 07/01/2001
- Academic Unit
- Finance
- Record Identifier
- 9984701247102771
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