NU Online News Service, Oct. 14, 2:57 p.m. EDT
Legislation introduced that would place significant restrictions on domestic insurers that cede reinsurance to their foreign affiliates is being strongly opposed by the Risk and Insurance Management Society, (RIMS), which it says could ultimately impact capacity.
According to RIMS, the proposed legislation, introduced by Rep. Richard Neal, D-MA, and Senator Robert Menendez. D-NJ, would disrupt the global insurance marketplace, making commercial insurance less available and affordable to U.S. consumers.
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