Insight and Intelligence on the London & International Insurance Markets

19 April 2018

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Reinsurance as import may pose risk to Florida: Study

Ted Bunker 20 March 2017

Florida could see residential and commercial property insurance costs soar if lawmakers slap offshore reinsurers with a national border adjustment tax (BAT) proposed by Republicans in Congress, according to a new study.

Should a 20 percent BAT be applied to transactions with offshore reinsurers by classifying the coverage as an import, the study released today by non-profit advocacy organisation Florida TaxWatch assumes the levy would be passed on to insureds through price hikes.

The direct result would be increases of...

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