Insurance industry groups are eagerly anticipating legislation streamlining the regulation of multi-state surplus lines risks expected to be introduced on Thursday.
Rep. Dennis Moore, D-Kan., said at a Council of Insurance Agents and Brokers event last week that he would be re-introducing the legislation in the near future with Rep. Ginny Brown-Waite, R-Fla. The two congressmen introduced the bill last year, and it was passed overwhelmingly by the House before failing to gain traction in the Senate.
Reps. Moore and Brown-Waite are gathering a significant list of co-sponsors for their bill, which would greatly improve its chances of receiving House approval again. At the same event, Sen. Chris Dodd, D-Conn., the chairman of the Senate Banking Committee, said the panel would be taking a “good look” at the measure this year.
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