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Surplus Lines Regulatory Reform Bill Introduced
Late last week, Reps. Dennis Moore, D-Kan., and Scott Garrett, R-N.J., introduced H.R. 2571, the Nonadmitted and Reinsurance Reform Act of 2009. The legislation would modernize the regulation of nonadmitted insurance and reinsurance markets. The proposal enjoys bipartisan support, with more than 19 additional representatives, including House Financial Services Committee Chairman Barney Frank, D-Mass., signing on as original co-sponsors of the legislation.
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