WASHINGTON–The property-casualty insurance sector remains divided over an appropriate industry regulatory system for the future.
Their varied views were displayed in comment letters to the Treasury Department, which has asked for views in connection with the Treasury's initiative to prepare a blueprint for an improved U.S. financial regulatory structure.
On the issue, two insurance trade groups voiced support for an optional federal charter approach. Two others said they see the need for a "vital but limited federal legislative role" to modernize the current state regulatory system and "overcome obstacles that currently exist," as stated in comments by the Independent Insurance Agents and Brokers of America.
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