Insight and Intelligence on the London & International Insurance Markets 23 Apr 2018

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Planned import tax to lift California premiums by $1.9bn: think tank

  • Laura Board 14 July 2017
  • The proposed border-adjustment tax (BAT) on imports of goods and services into the US could lift P&C insurance costs for Californian consumers by $1.91bn over the next decade, according to free-market think tank R Street.

    The potential levy, part of a wider package of planned tax reforms under President Donald Trump, would hit California particularly hard since insurers in the state, in common with those in other cat-prone locations, cede a large proportion of their risks to foreign reinsurers, R...

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