WASHINGTON--A Treasury official declined yesterday to endorse any of the various proposals for federal involvement in insurance regulation, but said the problems facing the industry would likely require some congressional action.
In testimony before the Senate Banking Committee, Treasury Under Secretary for Domestic Finance Randal Quarles said Treasury has been "monitoring the developments of the various approaches to modernizing insurance regulation."
He said they had been examining proposals by the National Association of Insurance Commissioners as well as bills to establish federal standards to be enforced by states or to create an optional federal charter framework.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
