A long list of insurance companies failed to pay taxes on insurance premiums of nearly $65 million to the state of New Mexico since 2003, according to an independent audit released Tuesday that could weigh in ongoing legal proceedings against …
New Mexico’s top insurance regulator says that an independent audit of unpaid insurance premium taxes shows far less money is owed to the state than previously thought. State Insurance Superintendent John Franchini said that a preliminary summary of the audit …
A standoff over millions of dollars in unpaid insurance premium taxes is escalating between New Mexico’s attorney general and the state’s largest health-care insurance provider. New Mexico Attorney General Hector Balderas this week renewed accusations that a for-profit insurance arm …
New Mexico’s superintendent of insurance pleaded Wednesday for more time to recover unpaid taxes on insurance premiums and investigate at least one company, after an outside audit uncovered $193 million in uncollected state revenue. Insurance Superintendent John Franchini told a …
New Mexico failed to collect at least $193 million in taxes on insurance premiums over the past five years, even as the state struggles this year to close a major budget shortfall, according to an independent review of collections. New …
The Arizona House gave final approval to a bill granting new tax breaks of $50 million over three years for insurance companies that invest in high technology companies. The bill being pushed by Republican House Speaker Andy Tobin is designed …
A new evaluation by the Oklahoma Insurance Department (OID) found that the state of Oklahoma is losing $8.8 million a year in premium taxes from drivers who fail to obtain the state-required minimum coverage for auto insurance. Using data provided …
RiskMeter Online, a provider of real-time natural hazard risk reports, has added premium tax assessment data and effective dates to its Kentucky Premium Tax report. This additional information assists insurers in determining if the correct premium tax amounts have been …
A proposed new law that places a cap on premium taxes paid by captive insurers is expected to increase the number of companies conducting business in Oklahoma, state regulators say. Senate Bill 1617, requested by Oklahoma Insurance Commissioner John Doak, …
States participating in the Non-admitted Insurance Multi-state Agreement, or NIMA, have adopted a premium allocation method for distributing surplus lines premium taxes on casualty insurance. The adopted method aims to streamlines the allocation and distribution process of surplus lines premium …
