Partner Michael Conway was quoted in an article published in SNL Financial on September 12, 2013 titled “ACUITY wins loss reserve dispute with IRS.” The article discusses how a federal tax court judge sided with ACUITY A Mutual Insurance Co. in a dispute with the Internal Revenue Service over its reserving methods, saying that the company’s 2006 loss reserves fell within reasonable range in guarding against potential claims payouts. Mr. Conway, who represented ACUITY, was quoted as saying, “What the court said at the very end is really the central message here. Which is, if an insurance company uses reasonable assumptions, proper methodology and arrives at a reserve, that’s the end of the inquiry.”
Reprinted with permission from SNL Financial.
