The federal surplus lines bill sitting in the Senate committee got a boost of support today from a property owner's group that said passage is needed to protect capacity for catastrophe insurance.
The National Catastrophe Policyholders Coalition, representing a group of 12 developers, lenders and realtors, urged Senate Banking Committee Chair Christopher Dodd, D-Conn., to swiftly consider the "Nonadmitted Lines and Reinsurance Act of 2007″ (S 929 and HR 1065) and move it to the full Senate for passage.
The bill, the group said in its letter, "represents an important step for increasing catastrophic insurance capacity."
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