Proposed legislation intends to reverse policies allowing U.S.-based insurance companies to claim a deduction for reinsurance premiums paid to a foreign affiliate. The legislation’s net effect would impose a costly tariff on international reinsurance firms, writes Temple Fox School of Business professor J. David Cummins in an opinion piece. "Establishing a punitive tax that restricts global risk-spreading will increase consumer costs and take away from the pool of money needed for the unforeseen catastrophes that cannot be handled with traditional insurance alone," Cummins wrote.