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Domestic P&C Insurers Seek Tax Reform to Reduce Benefits to Foreign Companies

The Senate Finance Committee has approved a draft tax reform proposal that includes a provision sought by domestic P&C insurers to change the tax treatment afforded offshore insurers doing business in the U.S.

By Arthur D. Postal | Updated on November 21, 2013

The Senate Finance Committee has approved for discussion a draft tax reform proposal that includes a provision sought by domestic P&C insurers to change the tax treatment afforded offshore insurers doing business in the U.S.

Domestic insurers, led by W. R. Berkley Corp., Travelers and Chubb, would be the beneficiaries of the proposal, which was adopted by the Senate panel Nov. 19.

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