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.

On January 14, 2010, Florida Insurance Consumer Advocate Sean Shaw testified before the House Committee on Ways and Means, highlighting the consumer impact of Rep. Neal's plan to tax foreign-based insurers and reinsurers:

“Especially in hard times, international insurers and reinsurers are indispensable for high-risk states such as Florida and for a heavily populated, highly industrialized, and increasingly vulnerable nation, such as the United States. On behalf of consumers in Florida and all across America, I ask you to reject this tax by recognizing that it will do nothing more than increase the pricing power of a handful of large and already hugely profitable insurers who want to put a crimp on their competitors.”

U.S. Representative Richard Neal (D-MA) has introduced HR 3424, a bill which threatens to drastically raise insurance rates across the country. This 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.

Nearly 40 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.