Experts Debate Federal Insurance Charter In Senate

Law360, New York (July 28, 2009, 3:09 PM EDT) -- A panel of insurance academics and analysts debated the merits of a federal charter for insurers during a U.S. Senate Banking Committee hearing Tuesday, questioning whether businesses and consumers might benefit from a two-tier system with separate roles for state and national regulators.

The witnesses, called to answer the Banking Committee's question about the role federal regulators should play in the insurance industry, supported a limited role for systemic risk regulation in the insurance industry, while cautioning that concentrating all regulation with national authorities, or bestowing...
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