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.  

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


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

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 now!

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

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2023 ALM Global, LLC. All Rights Reserved.