WASHINGTON–Insurance interests in Washington are both publicly and privately ecstatic over the decision of the National Association of Insurance Commissioners to name former Nebraska Sen. Ben Nelson as its new chief executive officer.
One of the key reasons industry lobbyists are strongly supportive if his appointment is that a top priority for the property and casualty insurance industry is renewal of the Terrorism Risk Insurance Act. Industry lobbyists believe he will be helpful in persuading reluctant senators to support the controversial bill.
Nelson has been the primary candidate since late October. He is one of two Washington-oriented officials that state insurance regulators wanted to see become the association's CEO as they sought to keep state insurance regulation relevant, say two insurance commissioners familiar with the discussions.
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