Senate Panel Urged To Boost Insurer Transparency

Law360, New York (September 14, 2011, 4:59 PM EDT) -- An insurance expert on Wednesday told a U.S. Senate panel weighing new insurance regulation issues that most states had done a “remarkably poor job” of promoting transparent markets that would help consumers make informed decisions and let watchdogs identify problems.

Daniel Schwarcz, an associate professor at the University of Minnesota Law School, and others spoke before the Senate Committee on Banking, Housing and Urban Affairs' subcommittee on securities, insurance and investment. They addressed issues over federal oversight of insurers, the impact of changes to how insurance...
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