Washington
Although President Barack Obama is vowing to clamp down on offshore tax advantages for U.S. companies, a research firm's finding that closing a loophole for offshore insurers could cost U.S. consumers over $10 billion per year has sparked a heated debate involving some of the nation's biggest coverage buyers and sellers.
The study–released May 1 by the Cambridge, Mass.-based Brattle Group–was endorsed by the Risk and Insurance Management Society, which was part of a group that commissioned it. However, its conclusions were attacked as flawed by the Coalition for a Domestic Insurance Industry.
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