A leading consumer advocate with hands-on experience in both state and federal oversight–Consumer Federation of America Insurance Director J. Robert Hunter–is blasting a recently introduced U.S. Senate measure to give carriers and producers the choice of a national license.
The comments by Mr. Hunter–a former Texas insurance commissioner and federal insurance administrator–were sparked by the introduction earlier this month by Senators John Sununu, R-N.H., and Tim Johnson, D-S.D., of an optional federal charter bill for insurers and intermediaries.
Mr. Hunter called the Johnson-Sununu bill “a wish list of regulatory giveaways promoted for years by large insurance companies that would be extraordinarily harmful to consumers.”
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