The Rise And Fall Of The Federal Insurance Office

Law360, New York (January 19, 2010, 3:37 PM EST) -- Suggestions for increased federal control over the insurance business have periodically surfaced, but on each such occasion defenders of state-based regulation have prevailed against the challenge.

As the financial crisis intensified from mid-2008 forward, the system of state-based regulation appeared more vulnerable than ever before, and dramatic change in the landscape of financial regulation was predicted.

Many of these ambitions were centered on a new federal entity to regulate insurers, encompassing the negotiation of international agreements, a role in consumer protection, and even the issuance of...
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