A border adjustment tax could wreck the reinsurance market
“Of the 40 insurance companies to report losses from 2010’s Deepwater Horizon disaster, 16 are based in Bermuda, 13 are European, nine are American, one is Australian and one is Japanese,” reports a study by the R Street Institute of Washington, D.C., and the Louisiana-based Pelican Institute.
Under a BAT, it would have cost American insurance firms more to buy reinsurance from three-quarters of those companies
