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Add the Association of Bermuda Insurers and Reinsurers to the list of insurance organizations not pleased with President Obama's proposed budget. Citing a "failure to understand insurance risk management," the organization's president criticized the administration's proposals to raise the effective tax rate of Bermuda insurance groups with U.S. subsidiaries and scale back the federal backstop for terrorism insurance (TRIA).
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February 4, 2010 Copyright 2010© LRP Publications |
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