This is the first book to address the special rules that apply to the taxation of all property and casualty insurance companies, including life insurance companies with property/casualty insurance operations. It covers the special rules that apply to the taxation of captive insurance companies in addition to the general rules that are usually applicable to a captive insurance company. At the same time, it examines the fact that many healthcare organizations are now considered to be insurance companies and will be taxed as such under all the various healthcare reform proposals. Includes a sample tax return for property and casualty insurance companies, Form 1120PC, and guidance on how to read and review a property and/or casualty company annual report.