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Tax Deductions for Catastrophic Risk Insurance Reserves: Explanation and Economic Analysis

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Description

According to the Insurance Services Office, Inc., (ISO), the property/casualty (p/c) insurance industry paid $62.2 billion in catastrophe losses from 24 disasters and more than 4.4 million claims in 2005, making 2005 the most costly year for catastrophe losses. This report begins by providing some background on the market for catastrophe insurance. It continues by describing the proposal for tax-deductible reserve accounts as set forth in H.R. 164/S. 926 of the 110th Congress, and concludes by providing an economic analysis of the plan.

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18 Pages.

Creation Information

King, Rawle O. June 5, 2008.

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This report is part of the collection entitled: Congressional Research Service Reports and was provided by UNT Libraries Government Documents Department to Digital Library, a digital repository hosted by the UNT Libraries. It has been viewed 17 times . More information about this report can be viewed below.

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  • King, Rawle O. Analyst in Industry Economics; Government and Finance Division

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Description

According to the Insurance Services Office, Inc., (ISO), the property/casualty (p/c) insurance industry paid $62.2 billion in catastrophe losses from 24 disasters and more than 4.4 million claims in 2005, making 2005 the most costly year for catastrophe losses. This report begins by providing some background on the market for catastrophe insurance. It continues by describing the proposal for tax-deductible reserve accounts as set forth in H.R. 164/S. 926 of the 110th Congress, and concludes by providing an economic analysis of the plan.

Physical Description

18 Pages.

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Congressional Research Service Reports

The Congressional Research Service (CRS) is the public policy research arm of Congress. This legislative branch agency works exclusively for Members of Congress, their committees and their staff. This collection includes CRS reports from the mid-1970's through the present--covering a variety of topics from agriculture to foreign policy to welfare.

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Creation Date

  • June 5, 2008

Added to The UNT Digital Library

  • March 19, 2016, 1:57 p.m.

Description Last Updated

  • Feb. 9, 2017, 9:44 p.m.

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Citations, Rights, Re-Use

King, Rawle O. Tax Deductions for Catastrophic Risk Insurance Reserves: Explanation and Economic Analysis, report, June 5, 2008; Washington D.C.. (digital.library.unt.edu/ark:/67531/metadc821544/: accessed January 24, 2018), University of North Texas Libraries, Digital Library, digital.library.unt.edu; crediting UNT Libraries Government Documents Department.