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Fla. Proposes To Drop Reinsurers' Collateral

Florida's has now become the second state after New York where a proposed measure is under consideration to eliminate a requirement that foreign reinsurers post hefty collateral in order to do busines

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Florida’s has now become the second state after New York where a proposed measure is under consideration to eliminate a requirement that foreign reinsurers post hefty collateral in order to do business.

State Insurance Commissioner Kevin McCarty, in a statement issued today in the wake of a Monday workshop on his proposed new rule, said the move would improve the insurance marketplace.

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