Major Insurance Coalition Pushing to Erase Reinsurer Tax Break

Fourteen of the nation's largest insurers renewed an initiative Monday to tax what it called excessive reinsurance premiums from offshore carriers with affiliated U.S. insurers, as part of a flurry of 11th-hour measures triggered by the nation's financial crisis.A group calling itself The Coalition for a Domestic Insurance, led by W.R. Berkley Corp., announced its support for H.R. 6969, filed in the House by U.S. Rep. Richard Neal, D-Mass., last Thursday.Congress failed to act on similar legislation last year following a hearing in the Senate Finance Committee. In a statement read on t...