Proposal Lays Groundwork For US Role In Insurance

Law360, New York (June 17, 2009, 12:00 AM EDT) -- Striking a balance between demands of insurers and state regulators, the Obama administration has called for the creation of an Office of National Insurance to help monitor and encourage standardization in the industry as part of a package of sweeping reforms proposed for the financial sector.

President Barack Obama unveiled the regulatory reform plan, described as a white paper, on Wednesday, in which the administration is proposing to establish the national insurance office as an agency within the U.S. Department of the Treasury charged mainly with...
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