What does Self Procurement Taxes mean? Read on to discover the definition & meaning of the term Self Procurement Taxes - to help you better understand the language used in insurance policies.
Self Procurement Taxes
State-imposed premium taxes of up to 4 percent on premiums paid to most captives. Owners and advisers find many ways to avoid paying them.
More Insurance Terms And Definitions
The Merriam-Webster Dictionary defines insurance as:
b: Coverage by contract whereby one party undertakes to indemnify or guarantee another against loss by a specified contingency or peril.
c: The sum for which something is insured.
We hope the you have a better understanding of the meaning of Self Procurement Taxes. If you are looking for the meanings of other important insurance terms and their definitions, just click on the letter below to find the words & concepts you are looking for: