As regulators prepare to implement the new financial services reform law, a House member sought to clarify the legislative intent of surplus lines provisions in a recent floor statement.
Rep. Dennis Moore, D-Kan., made his statement late last month as a means of forestalling delays by state regulators or requests for judicial review of the intent of the provision, according to officials of the National Association of Professional Surplus Lines Offices.
Rep. Moore was the chief House sponsor of The Non-admitted Reinsurance and Reform Act, which was incorporated intact into the Dodd-Frank Financial Reform Bill, H.R. 4173.
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