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The New Insurance Tax

A battle is brewing over insurance tax policies as foreign based reinsurance companies launch a campaign today to fight back against a group of U.S. based insurers who are pushing for what they say is a discriminatory and anti-foreign tax.

HR 3424, a bill in Congress, threatens to drastically raise insurance rates across the country. This legislation imposes an unnecessary and costly tariff on the companies that help spread insurance risks globally. These companies have been especially beneficial for consumers and businesses in areas subject to hurricanes, earthquakes, crop failures and other forms of disaster.
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