Compromise legislation establishing a federal role in insurance regulation is likely to emerge from the House Financial Services Committee early in May. A hearing in late March yielded strong support for the measure from an industry divided on the issue.At the same time, the principles involved constitute the strongest support yet for greater uniformity in insurance regulation.

The current consensus among experts is that the bill will get through the House. And, there are indications that Sen. Richard Shelby, R-Ala., chairman of the Senate Banking Committee, may be willing to take up the issue.

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