The Council of Insurance Agents & Brokers in the US has praised Congress for addressing insurance market reform and said there is still time this session to enact some easy, achievable changes that could have a major impact on the marketplace.

In testimony before the Senate Banking Committee, Scott A. Sinder, The Council's general counsel, said lawmakers could adopt some incremental reforms to address "real marketplace problems" that would have a major impact on insurers, agents/brokers and consumers. Chief among them, he said, is regulation of surplus lines insurance, which is subject to burdensome regulations that differ from state to state and create a headache for brokers and agents, to say nothing of adding to the cost of the coverage.

"The difficulty of complying with the inconsistent, sometimes conflicting requirements of multiple state laws is a real problem," Sinder told the Senate panel. "Simply keeping track of all the requirements can be a Herculean task."