Federal Oversight May Come To Insurance Industry

Law360, New York (January 13, 2009, 12:00 AM EST) -- A long-simmering debate over who can best regulate insurance – the states or the federal government – may reach a breaking point as Congress and the new administration consider the causes of the economic downturn and the role of regulation.

Legislation has been introduced in previous congressional sessions that would create an optional federal charter, allowing insurance companies to choose to be regulated by the federal government rather than the states, as they are now. Others in Congress are pushing for the U.S. Treasury Secretary to...
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