Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Senate Moving On Bermuda Loophole Washington

The United States Senate last week approved language that would shut down the so-called “Bermuda reinsurance loophole,” although details were still sketchy at press time.

As part of the debate over the fiscal year 2004 budget, the Senate adopted an amendment by Sen. Carl Levin, D-Mich., aimed at preventing U.S. subsidiaries of Bermuda-based insurance companies from allegedly avoiding U.S. taxes by reinsuring business with their parent companies.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.


  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?



Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2022 ALM Global, LLC. All Rights Reserved.