WASHINGTON–An optional federal charter could cut regulatory costs for life insurers by as much as $5.7 billion, according to a new study, but an agents' group suggested its numbers were "fuzzy."
The study conducted for the American Council of Life Insurers by Dr. Steven Pottier of the Terry College of Business at the University of Georgia in Athens, also said the charter legislation now before Congress would significantly increase the efficiency of insurance regulation for insurers operating on a nationwide basis.
Sponsors of the measure that has been introduced are Sen. John Sununu, R-N.H., and Tim Johnson, D-S.D.
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