An advocate of legislation to revise tax rules that some U.S. insurers say favor Bermuda carriers with U.S. subsidiaries predicted such a measure could be considered by federal lawmakers this year.
However, if such legislation isn't passed, U.S.-domiciled companies will be forced to move, warned William Berkley, chair and chief executive officer of W.R. Berkley Group in Greenwich, Conn.
Mr. Berkley–responding to questions during a recent media briefing about his leadership of a 17-member coalition seeking changes in taxes for offshore entities–said it would not surprise him if the legislation was not introduced shortly.
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