NU Online News Service, MAY 14, 4:09 p.m. EDT
WASHINGTON–Consumer advocate and former insurance regulator J. Robert Hunter said today in congressional testimony that the federal government should take over capital, surplus and solvency regulation of insurance.
But that limited U.S. regulatory role must be well defined, said Mr. Hunter and any federal legislative reform should include provisions repealing the McCarran-Ferguson Act that exempts insurers from certain antitrust law provisions.
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