President Barack Obama speaks about his proposed fiscal 2014 federal budget on April 10. (AP Photo/Charles Dharapak)

The Obama administration has again revived its proposal to reduce the tax benefits foreign insurers receive by ceding U.S. property and casualty premiums to their foreign affiliates.

The provision, contained in President Obama’s budget for 2014 unveiled Wednesday, prompted a flurry of responses from domestic insurers who support the legislation—led by William R. Berkley, CEO W.R. Berkley Corp.—and challengers of the proposal.  

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