For decades, there has been talk of creating a federal insurance regulator. The industry remains split on the issue, with the life industry generally in favor of federal oversight, but with property-casualty trade groups representing both insurers and producers at odds over the question.
The idea was to create an "optional" federal regulator and let insurance companies choose, much as banks do, who would supervise their operation. Presidential administrations and many Congresses have come and gone, and the debate continued.
As this debate intensifies following the financial market's meltdown, industry pundits on both sides appear to agree that this congressional session will be different, since some version of a federal regulatory bill has the best chance ever of being passed and signed into law.
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
© 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.
