State regulation of the U.S. insurance industry is “inefficient and costly,” the American Insurance Association says in a new comment letter.
The AIA comments were contained in an answer to the Federal Insurance Office's request for industry input on a forthcoming study of the breadth and scope of the global-reinsurance market and the critical role such markets play in supporting insurance in the United States.
The letter was signed by Steven A. Bennett, AIA associate general counsel, and J. Stephen (“Stef”) Zielezienski, senior vice president & general counsel.
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