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74A106 (115)INSURANCE PREMIUMS TAX RETURN Commonwealth of Kentucky DEPARTMENT OF REVENUECAPTIVE INSURER OFFICIAL USE ONLY3 2 2 0 1 1 / / Taxpayer. Account Number For Calendar Year 20 VEIN NAIL/ TAX
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What is captive insurer?
A captive insurer is a licensed insurance company that is created and wholly owned by a parent company or group to insure its own risks.
Who is required to file captive insurer?
Generally, companies that own a captive insurer are required to file necessary documentation with regulatory authorities, which may include the parent company's financial reports and information about the captive's operations.
How to fill out captive insurer?
Filling out forms for a captive insurer typically involves providing information about the ownership structure, business operations, risk exposure, and financial statements, often requiring compliance with specific regulatory forms mandated by the jurisdiction.
What is the purpose of captive insurer?
The primary purpose of a captive insurer is to provide a more flexible and cost-effective way to manage risks and secure coverage tailored to the specific needs of the parent company.
What information must be reported on captive insurer?
Reporting requirements for captive insurers typically include details on premium collections, claims payments, financial statements, ownership information, and operational declarations as dictated by local insurance regulations.
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