Insurers will be hunting for a new candidate to support now that Sen. Chris Dodd, D-Conn., who had big money backing from the insurance community, has dropped his pursuit of the Democratic presidential nomination, an industry representative said.
With Sen. Dodd out of the race, "there's no one else that stands out in the field [of primary candidates]," said Ken Crerar, president of the Council of Insurance Agents and Brokers. He speculated that industry donors would "move in new directions" and support different candidates based on their own assessments.
Mr. Crerar's comments followed the announcement last night by Mr. Dodd, who is chairman of the Senate Banking Committee, which has jurisdiction over most insurance legislation, that he was giving up the race after a poor showing in the Iowa caucuses.
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