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Committee approves measure to codify surplus‑lines rule aimed at boosting market competition
Summary
Senate Bill 76, carried by a House member in committee, would codify an existing rule intended to create a more competitive surplus‑lines insurance market; the committee recommended passage by voice vote.
Senate Bill 76, carried in the committee by the bill’s House sponsor, would codify a rule already in place for the surplus‑lines insurance market to promote competitiveness.
The sponsor described the bill as codifying an established rule that has operated for more than a decade and said the Senate approved the measure by a strong vote. No opponents testified. Representative Lundstrom moved a do‑pass recommendation; the motion carried by voice vote.
