WASHINGTON–Federal legislation mandating uniform rules forsurplus lines carriers and brokers was heartily endorsed Wednesdayby witnesses testifying at a House Financial Services Committeehearing on the bill.

But state regulators did not participate in the hearing, andseveral members of the committee used the hearing as a platform topropose further steps that Congress could take to preempt stateregulation, including creating an optional federal charter forinsurers.

Another proposal was that the Committee re-examine whether theNational Association of Registered Agents and Brokers proposalfirst used in the 1999 Gramm-Leach-Bliley Act should be retooled toforce more states into the fold, especially the larger ones stillmissing in action–as well as to ensure continued statecompliance.

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