NU Online News Service, Apr. 2, 3:49 p.m. EDT
Legislation to impose some federal regulation on insurers and create a federal insurance charter mechanism has been introduced by two House members who said the American International Group meltdown underscores the need for their measure.
In unveiling their National Insurance Consumer Protection Act, Rep. Melissa Bean, D-Ill., and Rep. Ed Royce, R-Calif. said numerous bipartisan reports have called for insurance regulatory reform.
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