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Berkley backs Obama’s offshore tax proposal

05 February 2010

A coalition of 13 US insurance groups have voiced support for US president Barack Obama’s proposal to cut what it sees as offshore tax avoidance. The coalition has urged legislation to be passed quickly.

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A coalition of 13 US insurance groups have voiced support for president Barack Obama’s proposal to cut what it sees as offshore tax avoidance. The coalition has urged legislation to be passed quickly.

“The president’s proposal is a good start,” said William Berkley, chairman and CEO of US insurer W R Berkley Corporation. “We now call on congress to pass the Neal bill and end hurtful tax loopholes that for years have benefited foreign-controlled insurance companies and created...