TAX REFORM: WHAT INDEPENDENT INSURANCE AGENTS & BROKERS NEED TO KNOW

January 3, 2018

This document is not meant to be an exhaustive analysis of all provisions of the law that may impact independent insurance agents and brokers, as the law’s effect will vary depending on the individual circumstances of tax filers. Big “I” members are encouraged to consult with their accountants, lawyers and other relevant professionals related to tax and estate planning based on their individual circumstances. In addition, the changes that the law imposes are extensive, and how the reforms in their entirety ultimately impact the decisionmaking and subsequent tax liability of businesses and individuals remains to be seen.

Spotlight

Integrity Insurance

Integrity Insurance is a growing and profitable property & casualty carrier with products sold exclusively through Independent Insurance Agents throughout Iowa, Minnesota and Wisconsin. We have satisfied customers, diverse coverage and financial consistency that sets us apart. In 2001, we affiliated with Grange Insurance (based in Columbus, Ohio). As a 13-state Enterprise we’re financially stronger "A"​ (Excellent) by A.M. Best, have a greater presence in the market and can deliver more value to agents and policyholders.

OTHER WHITEPAPERS
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Power of the collective: The rise of insurance associations

whitePaper | March 7, 2023

No single insurer is spared by fraud. Globally, fraud is estimated to cost the insurance industry hundreds of billions of GBP per year. This figure isn’t just fraud on an individual or opportunistic scale, but also the result of insurance fraud networks who represent an industry unto themselves.

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Reducing insurance waste & abuse

whitePaper | November 30, 2022

In June 2022, nearly two dozen people were charged with defrauding various life insurance carriers – to the tune of more than $25 million. Those involved conspired to apply for numerous bogus life insurance policies, then collect on them by intentionally deceiving carriers with the assumed identities of deceased individuals.

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Data Science – Transforming Health Insurance

whitePaper | June 24, 2022

Health care solutions devised in the past are becoming redundant at lightning speed due to the ever evolving and varying health care demands. This is driven by demographic changes, medical inflation, consumerism, regulatory changes, and growing awareness of patients regarding their own health care. Continuous efforts are being made towards understanding health care needs and accordingly building sustainable solutions. This includes driving better product structures, price differentiation, claims management, customer engagement, and risk profiling by making technological, economic, and societal changes.

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How Bond Insurance Delivers Value for Investors: In The Pandemic And Beyond

whitePaper | July 31, 2022

The Covid-19 pandemic spurred new demand for insured municipal bonds, and the strong interest appears poised to continue as investors team with states and local governments to help execute the largest wave of U.S. infrastructure investment in a generation. Amidst the uncertainty surrounding municipal fiscal stability and an increase in taxable debt issuance immediately following the outbreak, wrapped bonds offered investors stable ratings, increased liquidity and less volatility. Since then, the market has faced more prolonged volatility brought on by questions about the outlook for inflation, economic growth, and other factors like climate change. Insurance remains a valuable tool for investors and issuers to maintain reliable, affordable capital markets access and peace of mind.

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Moving to the cloud is reshaping the insurance industry

whitePaper | October 25, 2022

With many employees working from home and digital business on the rise, insurers need a solution for managing, data, core systems and organisational needs. This whitepaper discusses the benefits of cloud computing for insurance companies.

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Is it time to review your claims handling process?

whitePaper | September 5, 2022

The COVID-19 pandemic has had a major impact on global supply chains, but those supply chains have also been a vital lifeline in supporting the response. In particular, vehicle rental and repair networks have kept drivers, businesses and the economy moving throughout the pandemic.

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Spotlight

Integrity Insurance

Integrity Insurance is a growing and profitable property & casualty carrier with products sold exclusively through Independent Insurance Agents throughout Iowa, Minnesota and Wisconsin. We have satisfied customers, diverse coverage and financial consistency that sets us apart. In 2001, we affiliated with Grange Insurance (based in Columbus, Ohio). As a 13-state Enterprise we’re financially stronger "A"​ (Excellent) by A.M. Best, have a greater presence in the market and can deliver more value to agents and policyholders.

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