Press Releases

Coalition Warns Tax on Reinsurers will Increase Costs, Limit Coverage Availability

Brad Kading — Wed, 22 May 2013 18:19:41 +0000

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The Coalition for Competitive Insurance Rates is made up of business organizations, consumer advocacy groups, insurers and their associations. For more information on CCIR, please visit www.keepinsurancecompetitive.com

Consumers and Business Groups Reject Harmful and Discriminatory Tax Proposal in FY 2014 Budget

Brad Kading — Wed, 10 Apr 2013 18:13:48 +0000

The Coalition for Competitive Insurance Rates (CCIR), the leading voice for continued and increased competition within the insurance industry, today objected to a proposal in President Barack Obama’s FY 2014 budget that would deny a tax deduction for reinsurance premiums paid to foreign affiliates by domestic insurers. CCIR maintains that protectionist tax treatment of US insurers’ affiliate reinsurance would limit capacity and drive up the cost of insurance, a major threat to homeowners and small businesses in disaster-prone states.

Consumers Organizations Advocate for Competitive Insurance Industry in Comments to Federal Insurance Office

Brad Kading — Mon, 27 Aug 2012 20:39:51 +0000

The Coalition for Competitive Insurance Rates (CCIR), the leading voice for continued and increased competition within the insurance industry, today submitted comments to the Federal Insurance Office (FIO) regarding its report to Congress on the US and Global Reinsurance Market.

Coalition Rejects Budget Proposal to Raise Insurance Rates

Brad Kading — Mon, 13 Feb 2012 23:28:21 +0000

The Coalition for Competitive Insurance Rates (CCIR), the leading voice for continued and increased competition within the insurance industry, today objected to a proposal in President Barack Obama’s FY 2013 budget that would deny a tax deduction for certain reinsurance premiums paid to foreign-based affiliates by domestic insurers. The president’s proposal comes on the heels of a record year when more than $105 billion insured catastrophe losses were incurred from natural disasters globally, 45 percent of which was paid by global reinsurers.

Florida Members of Congress Oppose Reinsurance Tax

Brad Kading — Tue, 29 Nov 2011 23:00:00 +0000

The Coalition for Competitive Insurance Rates (CCIR) today praised Florida lawmakers for urging the leadership of the House Ways and Means Committee to oppose the establishment of a punitive tax on reinsurance. The members of Congress said that the bill, H.R. 3157, introduced by US Rep. Richard Neal (D-MA), would “lead to higher premium costs for citizens of Florida, and the rest of the nation.”

Risk and Insurance Management Society Opposes Harmful Tax Penalty on Reinsurers

Brad Kading — Fri, 14 Oct 2011 22:17:00 +0000

The Risk and Insurance Management Society, Inc. (RIMS) voiced its opposition to legislation introduced by Rep. Richard Neal (D-MA) and Senator Robert Menendez (D-NJ) that would place significant restrictions on domestic insurers which cede reinsurance to their foreign affiliates.

Proposed Tax on Insurance Threatens American Families and Businesses Says Coalition for Competitive Insurance Rates

Brad Kading — Wed, 12 Oct 2011 17:46:00 +0000

The Coalition for Competitive Insurance Rates (CCIR) today strongly objected to bills H.R. 3157 and S. 1693 introduced by Congressman Richard Neal (D-MA) and Senator Robert Menendez (D-NJ). The legislation would raise taxes on foreign-based insurance and reinsurance companies operating within the United States, driving up consumer insurance rates by reducing competition and critical US insurance capacity. CCIR, an organization made up of businesses, consumer advocates, and insurance industry groups, sent a letter to the chairmen and ranking members of the Senate Finance Committee and House Ways and Means Committee detailing the negative consequences of this proposal.

Consumer Advocates, Insurance Industry Experts Back Florida Senate Stance Against Harmful Insurance Tax

Brad Kading — Thu, 24 Mar 2011 22:19:00 +0000

The Coalition for Competitive Insurance Rates (CCIR) applauded the Florida State Senate today for passing a memorial standing against the harmful provision included in President Obama’s FY2012 budget that would raise insurance costs for consumers and businesses in Florida and across the United States.

Consumer Group Views Aspects of Obama Budget Plan as Harmful to Insurance Consumers

Brad Kading — Tue, 15 Feb 2011 22:51:00 +0000

In response to the Obama Administration’s budget blueprint for fiscal year 2012, today RIMS expressed its continued opposition to any proposal which would have a detrimental impact to its membership—commercial insurance policy holders. “Despite longstanding opposition by policy makers on a bipartisan basis, the Obama Administration continues to pursue a policy which is harmful to insurance consumers by capping the deductibility of reinsurance premiums paid by domestic companies to foreign affiliates, ” says John Phelps, director, business risk solutions, Blue Cross and Blue Shield of Florida, Inc. and board liaison RIMS External Affairs Committee.

CCIR Objects to Harmful Tax Proposal in 2012 Budget

Brad Kading — Mon, 14 Feb 2011 21:50:00 +0000

The Coalition for Competitive Insurance Rates (CCIR) today objected to a proposal in the FY 2012 budget that would deny a tax deduction for certain reinsurance premiums paid to foreign-based affiliates by domestic insurers. CCIR and a number of its allies today sent a letter to the chairmen and ranking members of the Senate Finance Committee and House Ways and Means Committee detailing the negative consequences of this proposal.