WASHINGTON–Legislation with a new approach to reform the nonadmitted property-casualty and reinsurance markets will be introduced in the Senate within two weeks, Sen. John Sununu, R-N.H., hinted today.
The new bill will contain "twists" not contained in similar legislation that recently passed the House, he said, and is designed to build momentum for more expansive legislation creating an optional federal charge.
A hearing in the Senate Banking Committee could also be held within three to four weeks, Sen. Sununu and others have said.
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