Fla. Senators Push Bill To Streamline Surplus Lines

Law360, New York (June 29, 2009, 12:00 AM EDT) -- Sens. Mel Martinez, R-Fla., and Bill Nelson, D-Fla., have introduced a bill that aims to untangle the nonadmitted insurance and reinsurance market through streamlined state regulatory oversight — legislation insurance companies have lauded as a much-needed industry reform.

The Nonadmitted and Reinsurance Reform Act of 2009, co-sponsored by Sens. Evan Bayh, D-Ind., and Mike Crapo, R-Idaho, and introduced in the Senate on Friday, would create a unified national standard for states to regulate surplus lines insurance, through which individuals can seek nonstandard coverage from companies not...
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