Dennis Moore: “I would like to thank, Mr. Speaker, Congresswoman Ginny Brown-Waite for her help and leadership on H.R. 1065, the…”

“I would like to thank, Mr. Speaker, Congresswoman Ginny Brown-Waite for her help and leadership on H.R. 1065, the Nonadmitted and Reinsurance Reform Act of 2007, as it has moved through the legislative process both in this Congress and in the 109th Congress, when it passed by 417-0. It has been a pleasure working with the gentlewoman and again I appreciate your leadership on this issue. I also would like to thank the Capital Markets Subcommittee Chair Paul Kanjorski and Ranking Member Spencer Bachus of the committee for their support of this measure, as well as Chairman Barney Frank for his support in moving this legislation to the House floor. I reintroduced this bill along with Congresswoman Ginny Brown-Waite in February with strong bipartisan support and strong support from the Financial Services Committee. As I previously mentioned, this legislation is virtually identical to legislation that passed the House unanimously by a vote of 417-0 in the 109th Congress. The bipartisan support for this bill is a good example of how both sides can come together to introduce and pass legislation that is not about partisan politics, is not about Republicans or Democrats. In short, H.R. 1065 would significantly improve the regulation of two specific areas in the commercial insurance marketplace, namely, surplus lines and reinsurance transactions.”