Heartland Institute Hails Florida Senate Passage of Offshore Reinsurance Memorial: “A Message to Washington”

March 23, 2011
Eli Lehrer

TALLAHASSEE—The director of The Heartland Institute’s Florida office today praised the Florida Senate for passing a memorial stating its opposition to tariffs that some in Washington wish to place on reinsurance transactions.

The memorial, based on a Heartland-authored model bill approved by the American Legislative Exchange Council, puts the upper house of Florida’s legislature on record as strongly opposing new taxes on offshore reinsurance transactions. It passed unanimously this morning.

“Public policy should encourage Florida to spread its enormous hurricane risk outside its borders. Taxing the ability to do so would have the opposite effect and would pose an enormous risk to the state and its consumers,” said Christian Cámara, director of Heartland’s Florida office.

“This memorial sends a message to Washington that Florida stands united against federally imposed higher insurance rates or any effort to stifle the responsible transfer of risk.”

Cámara can be reached at 305-608-4300 or ccamara@heartland.org.