NU Online News Service, March 11, 1:35 a.m. EST
WASHINGTON–Risk retention trade groups are urging prompt House action on legislation introduced last week that will allow their members to sell commercial property insurance.
However, the Independent Insurance Agents and Brokers of America is voicing concern about a provision of the bill that would allow the Treasury Department to preempt a state's oversight of a risk retention group if the agency determines that the rule is inconsistent with the risk retention group's home state regulation.
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