WASHINGTON–Sen. Chris Dodd, D-Conn., the Senate Banking Committee chairman, said Congress might manage to push through legislation this year to reform regulation of surplus insurance lines and create an Office of Insurance Information.
But, since neither the surplus lines nor the Office of Insurance Information bills have been acted on by the committee, a lobbyist source noted that lawmakers, "will only have a couple of weeks to put together such a deal."
Sen. Dodd made his comments during a hearing on insurance regulation during which he voiced surprise at such industry interest in legislation providing a federal insurance regulatory role.
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