OFC Senate Proponent Leaves Key Committee

Sen. John Sununu, R-N.H., has moved from the insurance-influential Banking Committee to the Finance Committee, taking the panel seat previously held by former Minority Whip and recent insurance foe Trent Lott, R-Miss. Sununu, along with Sen. Tim Johnson, D-S.D., co-sponsored legislation to create an optional federal charter.

Sununu has reportedly been interested in a spot on the powerful tax-writing panel for some time, and he has what many consider a tough re-election race this fall in a state that ousted many Republicans in 2006.

Republican rules say that in general, senators may only sit on one “Super A” panel. Those include the Armed Services, Appropriations, Finance, and Foreign Relations committees.

Sununu’s replacement on the Banking Committee is Sen. Bob Corker, R-Tenn. “Sen. Corker is very close and responsive to NAMIC’s members in Tennessee, and I believe he will be an important ally on the committee,” said Carl Parks, NAMIC’s senior vice president for government affairs. “We look forward to working with him as the Banking Committee addresses issues important to the property/casualty insurance industry.”

Posted: Tuesday, January 29, 2008 12:00:00 AM. Modified: Thursday, January 31, 2008 9:37:49 AM.

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We are 1,400 property/casualty insurance companies serving more than 135 million auto, home and business policyholders, with more than $196 billion in premiums accounting for 50 percent of the automobile/homeowners market and 31 percent of the business insurance market. We are the largest and most diverse property/casualty trade association in the country, with regional and local mutual insurance companies on main streets across America joining many of the country’s largest national insurers who also call NAMIC their home. More than 200,000 people are employed by NAMIC members.