WASHINGTON--If Sen. Joe Biden, D- Delaware, is elected vice president, it would set off a domino effect making Sen. Tim Johnson, D-S.D., chairman of the Senate Banking Committee next year, Senate Majority Leader Harry Reid, D-Nev., said yesterday.

Such a change could help the cause of insurance industry sectors supporting an optional federal charter for insurers because Sen. Johnson is a primary sponsor of Senate OFC legislation.

Sen. Johnson and Sen. John Sununu, R., N.H., are primary sponsors of S. 40, "The National Insurance Act of 2007," a bill that would give insurers the option of choosing between a state charter and a federal charter.

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