American businesses and consumers rely on the availability of insurance services provided at competitive rates. The Coalition for Competitive Insurance Rates is made up of business organizations, consumer advocacy groups, insurers and their associations advocating for continued and increased competition within the insurance industry.

Bills H.R. 3157 and S. 1693  introduced in the 112^th Congress by US Representative Richard Neal (D-MA) and Senator Robert Menendez (D-NJ) threaten to drastically raise insurance rates across the country. The legislation imposes an unnecessary and costly tariff on the companies that help spread insurance risks globally. This has been especially beneficial for consumers and businesses in areas subject to hurricanes, earthquakes, crop failures and other forms of disaster. President Obama's FY 2012 budget includes a provision based on similar legislation introduced by Representative Neal in the previous Congress.

More than 100 independent experts, state government officials, business owners, and associations have publicly filed opposition letters to this tax proposal. Additionally, the Brattle Group, an economic research firm has published a study pointing out the potential economic consequences of this legislation.