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.

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Thursday
Jan262017

Study Shows Impact Of US Foreign Reinsurance Bill

By Scott Hamilton

Brattle Group, a provider of consultancy services and expert testimony, has updated its economic impact study of legislation introduced into the US Congress to close the so-called "tax loophole" said to provide foreign-owned insurers with an opportunity to obtain a significant advantage over their American competitors.
The legislation would eliminate the perceived competitive advantage for foreign-owned insurers, by deferring their tax deduction for any reinsurance premiums paid to a foreign affiliate (if the premium is not subject to US tax) until the insured event occurs.
Brattle Group, a provider of consultancy services and expert testimony, has updated its economic impact study of legislation introduced into the US Congress to close the so-called "tax loophole" said to provide foreign-owned insurers with an opportunity to obtain a significant advantage over their American competitors.

The legislation would eliminate the perceived competitive advantage for foreign-owned insurers, by deferring their tax deduction for any reinsurance premiums paid to a foreign affiliate (if the premium is not subject to US tax) until the insured event occurs.

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