State Regulators, Insurers Battle Over Reform Plans

Law360, New York (June 19, 2009, 12:00 AM EDT) -- The Obama administration’s white paper on financial regulatory reform provided only a broad outline for the development of new insurance regulatory mechanisms, such as the establishment of a loosely defined Office of National Insurance, leaving most of the details for lawmakers to hammer out.

Under proposals already in the legislature or being lobbied by interest groups, insurers could see changes including the enactment of a federal charter, the institution of federal systemic risk oversight or possibly enhanced uniformity among existing state regulations.

Large insurers, many of...
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