Posted On: June 6, 2007, 4:23 pm CDT

Posted By: Been Around Too Long

Sam: You are a gentleman compared to many who post comments on this BLOG. You do not resort to name calling and demeaning remarks to those who disagree with your position and I appreciate that. Regardless of our individual beliefs, I believe change is coming. The timing of it is yet to be determined. We are now a global economy and state borders are no longer a hindrance to the conduct of business across State Lines as it once was when I entered the Agency Business in 1955. While we weren't traveling by horse and buggy, we conducted business in a comparable fashion. McCarren Ferguson goes back before 1955, I believe into the 30's Protectionism was strong factor in those days to fend off competitors from other states. With the advent of corporate franchises, thousand of businesses with offices in 50 states, simplification and standardation of regulatory rules and regulations have promise to reduce cost, assure equality in coverage and equitable determination of rates. Competition will not be squelched as feared. Not mentioned yet are insolvency funds. It is my speculation that with Federal Regulation and the US Government involved, a form of Federal Insolvency protection may well be established, which if created would provide standardized protection to policyholders perhaps similar to Federal Deposit Insurance. Who knows, it may also provide protection for non-admitted carriers which is another area of concern to policyholders under present State Regulation.