State business recruiters target insurance companies

In an attempt to capitalize on legislation passed last year that cut in half the state premium tax paid by most insurance companies, two business recruiters from the New Hampshire Business Resource Center will be traveling to New Orleans at the end of the month to attend the 2007 Risk & Insurance Management Society Conference.

House Bill 678 will lower most insurance companies’ premium tax from 2 percent to 1 percent by 2011, so to promote the cut, the NHBRC is sending its two recruiters to the 2007 conference, known as RIMS 2007, in an effort to attract expanding insurance firms to set up shop in New Hampshire.

“The passing of HB 678 should open the door of opportunity for insurance companies not already domesticated in New Hampshire,” said Roy Duddy, director of the NHBRC. “They can save thousands of dollars annually on the premium taxes they pay to the state if they domesticate to New Hampshire.” – JEFF FEINGOLD