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July 21, 2010 — Senior executives and risk managers of global companies are increasingly vigilant of regulations around insurance requirements, premium taxes, and insurance compliance, as they strive to be good corporate citizens and avoid penalties (and resulting adverse publicity) from regulatory audits.
"Multinational companies are demanding greater adherence to insurance and premium tax compliance regulations, as they are facing enhanced scrutiny from governmental bodies," said Praveen Sharma, Marsh Insurance Regulatory and Tax Practice Leader.
The global regulatory environment has changed dramatically in recent years. Contributing events include the landmark Kvaerner case in the European Union; bilateral and multilateral agreements among regulators and tax authorities; and operations' needs to cover risks such as excess liability, crime, and directors & officers (D&O) liability on a broader and more consistent basis.
Access our bulletins covering the most recent global insurance premium tax related news that could affect insurance premiums payable under a contract of insurance.
About the Marsh Insurance Regulatory & Tax Practice
The Marsh Insurance Regulatory & Tax (IRT) Practice is dedicated to providing multinational companies with support and information to help them evaluate regulatory and premium tax risks arising from their insurance and alternative risk-financing in all parts of the world.
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