House Backs Surplus Lines Reform Bill

Law360, New York (September 9, 2009, 6:06 PM EDT) -- The U.S. House of Representatives on Wednesday gave its unanimous support for the third time to a bill aimed at streamlining and clarifying regulatory and compliance aspects of multistate surplus lines insurance, a measure backed by several major insurance industry groups.

Representatives passed the Nonadmitted and Reinsurance Reform Act of 2009 — reintroduced in the House by Reps. Dennis Moore, D-Kan., and Scott Garrett, R-N.J., in May — by a voice vote Wednesday morning.

The bill is “vital to promoting further harmonization for transactions occurring across...
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