WASHINGTON, Jan. 23, 2017 /PRNewswire-USNewswire/ -- The Coalition for Competitive Insurance Rates (CCIR), the leading voice for continued and increased competition within the insurance industry, today commended a study examining the impact of legislation introduced in the 114th Congress by Sen. Mark Warner (D-VA) and Rep. Richard E. Neal (D-MA) (S. 3424 and H.R. 6270) to levy a special punitive tax on foreign-based companies providing reinsurance to US affiliates. Released by the Brattle Group, a leading economic consultancy, the study found that among other drastic impacts, the proposal will reduce the supply of insurance and reinsurance, driving up the cost for consumers, homeowners, and businesses. The study, The Impact of Offshore Affiliate Reinsurance Tax Proposals on the U.S. Insurance Market, follows two earlier studies in 2009 and 2010 which examined the effects of earlier versions of the offshore affiliate reinsurance tax increase legislation.
New Brattle Report Highlights the Dangers of Foreign Affiliate Reinsurance Tax on Consumer Access to Insurance and Reinsurance
Wed, 01/25/2017 - 10:09
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