NU Online News Service, Nov. 11, 9:05 a.m. EST
WASHINGTON–Property and casualty insurance trade groups are lauding Senate Democrats' decision to include provisions modernizing and reforming the surplus lines industry in legislation they unveiled for financial services regulatory reform.
But, other aspects of the so-called "Restoring American Financial Stability Act" are raising concerns. The bill was rolled out by Sen. Chris Dodd, D-Conn., chairman of the Senate Banking Committee, and several other committee Democrats.
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