NU Online News Service, July 13, 3:50 p.m. EDT
Authors of a recent study that opposed a proposed tax on offshore reinsurers "don't have their math right," according to William R. Berkley, chairman and CEO of the W.R. Berkley Co.
In comments to the NU Online News Service, Mr. Berkley said it is difficult to understand how raising taxes by an estimated $1.9 billion by closing a loophole–as projected by the Joint Tax Committee–would cost consumers an additional $11 to $13 billion per year to maintain their current insurance coverage.
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