COALITION: Failure to Close Insurance Tax Haven Loophole Undermines Tax Reform, Continues to Subsidize Base Erosion

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WASHINGTON, D.C. (November 9, 2017) – The Coalition for American Insurance issued the following statement today regarding the Ways and Means Committee action on H.R. 1:   “While the Chairman and the Committee intended to close the Insurance Tax Haven Loophole and level the playing field in the original Chairman’s mark, the Committee’s modified bill… Read more »

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Coalition for American Insurance Statement on Latest Inversion by U.S. Insurance Company

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WASHINGTON, D.C. (October 18, 2017) – News broke today that Assurant Inc. will acquire Chicago-based Warranty Group. According to reports, the acquisition paves the way for an inversion to Bermuda and will allow the new company to exploit the Insurance Tax Haven Loophole, which allows foreign based insurers to avoid paying federal taxes on reinsurance… Read more »

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Op-Ed: Closing the Insurance Tax Haven Loophole Key to Comprehensive Tax Reform

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WASHINGTON, D.C. (October 5, 2017) – In an op-ed in The Morning Consult today, William R. Berkley, Executive Chairman of W. R. Berkley Corporation, Inc., states that closing the Insurance Tax Haven Loophole will be crucial to comprehensive tax reform. The op-ed reads in part: “Proposals to close the loophole are not new. Both the… Read more »

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Coalition Statement on Framework for Tax Reform

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WASHINGTON, D.C. (September 27, 2017) – The Coalition for American Insurance issued the following statement today regarding the announced Framework for Tax Reform:   “The Framework’s emphasis on leveling the playing field between U.S. and foreign-headquartered parent companies is welcomed and the Coalition looks forward to working with lawmakers to achieve this objective. Also important… Read more »

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New Academic Article Urges Closure of Offshore Reinsurance Tax Loophole

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WASHINGTON, D.C. (September 19, 2017) – A new academic article published in Tax Notes and authored by Jonathan Talisman, founding partner of Capital Tax Partners LLP, explains that the offshore affiliate reinsurance loophole must be closed to ensure tax fairness for U.S. and foreign based insurers operating in the U.S. market. Talisman notes that proposals… Read more »

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Coalition for American Insurance Statement on Hurricanes Harvey and Irma Recovery Efforts

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WASHINGTON, D.C. (September 12, 2017) – The Coalition for American Insurance issued the following statement today regarding the recovery efforts underway following Hurricanes Harvey and Irma. “The member companies of the Coalition for American Insurance are committed to assisting those impacted by Hurricane Harvey and Hurricane Irma. Companies are contributing to relief efforts to help… Read more »

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Closing the Insurance Tax Haven Loophole

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WASHINGTON, D.C. (September 12, 2017) – An obscure tax loophole is currently costing the U.S. taxpayers nearly $9 billion and must be closed in any comprehensive tax reform legislation, according to the Coalition for American Insurance. Doing so would create a level playing field for U.S. and foreign-based insurers and help pay for comprehensive tax… Read more »

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Coalition for American Insurance Relaunches Ahead of Tax Reform Debate

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WASHINGTON, D.C. (August 3, 2017) – A group of U.S.-based property and casualty insurers is relaunching the effort to close a tax loophole that benefits foreign-based insurers at the expense of U.S. customers and taxpayers. The Coalition for American Insurance consists of twelve major U.S.-based insurance groups that employ hundreds of thousands of people within… Read more »

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Comment on Joint Statement on Tax Reform

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Coalition for American Insurance Commends Joint Statement on Tax Reform   WASHINGTON, D.C. (July 28, 2017) – The Coalition for American Insurance commended a joint statement from top lawmakers on the status of tax reform as progress on an issue of great importance to the nation’s economy. The statement from Congressional leaders and Administration officials… Read more »

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Coalition for American Insurance Urges Lawmakers to Close Insurance Tax Haven Loophole

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WASHINGTON, D.C. (July 17, 2017) – The Coalition for American Insurance is urging policymakers to close an obscure tax loophole that benefits foreign-based insurance companies operating inside the U.S. at the expense of American-based companies and taxpayers. In a letter to lawmakers, the Coalition argued that the Insurance Tax Haven Loophole, which allows foreign-based companies… Read more »

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