WASHINGTON–The Business Roundtable organization of major company chief executives has sent letters to committee leaders in the House and Senate urging adoption of an optional federal charter for insurers and blasting state insurance regulation as outdated and harmful to commerce.
"Our current state-based insurance regulatory structure is one that reflects an economy as it existed in the mid-20th century. While that structure may have worked well then, it simply doesn't work now," said the message from Business Roundtable President John Castellani.
His letter was sent to House Financial Services Committee Chairman Barney Frank, D-Mass., and Ranking Minority Member Spencer Bachus, R-Ala., as well as Senate Banking Committee Chairman Christopher Dodd, D-Conn., and ranking Minority Member Richard Shelby, R-Ala.
Continue Reading for Free
Register and gain access to:
- 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
© 2024 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.
