Iowa Gov. Tom Vilsack signed Senate File 2318, which will cut the premium tax for P/C insurers from 2 percent to 1 percent over a four-year period, beginning in 2004.
National Association of Independent Insurers (NAII) Counsel Ann Weber expressed appreciation for Vilsack’s action, which she said will make Iowa more competitive with other states that have lowered their premium taxes in recent years. By attracting more insurers into Iowa, the new law will benefit consumers, she added.
Topics Pricing Trends
Was this article valuable?
Here are more articles you may enjoy.
First Brands Hit by $286 Million Claim for Alleged Tariffs Fraud 
Viewpoint: The AI Boom – When Risk Stops Being Rare, Insurance Must Evolve 
Progressive Is Biggest Auto Insurer, Surpassing State Farm, Says S&P GMI 
Moody’s: US Faces $375B in Uninsured Flood Losses From 1-in-100-Year Event 
