Gary Osborne, president of the USA Risk Group, says his company is seeing interest in Tennessee from companies based there thanks to a provision in the state's new captives law that could make a big difference for some companies.

"Basically," Osborne explains, "you can directly write workers' comp for your Tennessee-based risk—as opposed to being just self-insured, that can get you tax deductibility."

Also, by direct-writing, companies can potentially eliminate some collateral and "look at slightly better Tennessee taxes," Osborne adds.

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.