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NCOIL Pushes For Disaster Reserves

Washington

The National Conference of Insurance Legislators is asking Congress to consider legislation that would allow insurers to establish tax-deferred disaster reserves.

H.R. 785 was introduced last year by Rep. Mark Foley, R-Fla., but has not advanced in the House Ways and Means Committee, which has jurisdiction over taxation. Congress has instead been focusing on the insurance issues arising from the Sept. 11 terrorist attack.

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