R Street’s insurance policy program explores efficient and effective market-based approaches to public policy questions that involve the transfer of risk. Among its priorities are risk-based insurance regulation, ending environmentally destructive taxpayer subsidies through the National Flood Insurance Program and the Federal Crop Insurance Corp. and exploring the benefits of mitigation through programs like the RESTORE Act and the Coastal Barrier Resources System.
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Watchdogs warn ‘hurricane tax’ could drive up insurance rates
Lars Powell
From News4JAX:
A new report suggests the average Florida family could see property insurance costs increase by as much as $319 a year under Biden’s recently announced tax plan.
“Everyone’s…
Top Three Takeaways – September 15th, 2021
Lars Powell
From 1290 WJNO:
As though living through them isn’t taxing enough and as though paying the sky-high property and flood insurance rates we already pay in South Florida due to the risk of them…
Biden ‘hurricane tax’ could boost Floridians’ property insurance by $300 each a year
Lars Powell & Jerry Theodorou
From The Center Square:
According to a 12-page analysis by the R Street Institute published last week, a provision of President Joe Biden’s proposed ‘Made in America Tax Plan’ (*MATP)…
Proposed ‘hurricane tax’ could hit Florida hard, topping $1.6B
Lars Powell & Jerry Theodorou
From Florida Politics:
A respected Washington think tank has just released a policy study that puts numbers to the concern: total insurance premium increases in Florida between $864 million and…
Up to $20bn on insurance bills from Biden tax changes, says think tank
Lars Powell & Jerry Theodorou
From Bermuda Re/insurance:
Joe Biden’s administration’s planned global minimum tax (GMT) regime will increase the cost of insurance for US consumers by between $10.8 billion and $20.3bn a…
Hochul must veto burdensome insurance disclosure bill
Alan Smith
In June the state Legislature passed a bill that mandates extreme—and likely unattainable—disclosure requirements for those defending themselves in civil litigation. The disclosures do not exist…
US tax proposals would raise cost of catastrophe reinsurance
Lars Powell
From The Royal Gazette:
A new study from an American think tank is the latest development in proposals for a global corporate tax scheme that could threaten Bermuda’s international business.
But…
Bermuda Reinsurers pay more than $400 Billion in Damages Since 1997
Lars Powell
From Capital Soup:
Under the new tax plan being considered, internationally based businesses, like Bermuda-based reinsurers who’ve paid out billions to cover damages, would face hefty tax…
Newsom administration wildfire, water policy facing criticism amid worsening fire season
Steven Greenhut
With the Dixie, Caldor, and several other fires causing California residents to evacuate, questions continue about what the state’s water storage goals are, and why an oversight hearing and…
Radio: Climate Change’s Effect on Your Insurance
Jerry Theodorou
From Inside Sources with Boyd Matheson:
Could climate change raise your insurance rates? The R Street Institute’s Jerry Theodorou thinks so. He talks with guest host Ethan Millard about what you…