Filed Under:Risk Management, Loss Control

Pending Bill Could Raise Rates

Legislation would place significant restrictions on domestic insurers that cede reinsurance to their foreign affiliates

Terry Fleming, director of the Division of Risk Management, Montgomery County, Md., and immediate past president of the Risk and Insurance Management Society, cautions that the Neal Bill, introduced by Rep. Richard Neal, D-MA, and Senator Robert Menendez, D-NJ, could mean hardening rates in the future.

If passed, the legislation would place significant restrictions on domestic insurers that cede reinsurance to their foreign affiliates.

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