National News
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Congressional Hearing Again Targets Regulatory Reform
National News • October 31, 2007
No one argues the need to revamp the regulatory structure of the insurance industry, but just how to reform regulation remains the big question for legislators considering the issue. Some in the ...
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| Subject | Posted By | Posted On |
|---|---|---|
| my "retort" | Stat Guy | Nov 7, 2007, 9:01 am |
| Federal Regulation | Vlad | Nov 1, 2007, 4:31 pm |
| Of course you may | Observer | Nov 1, 2007, 3:49 pm |
| Observer, May I Retort? | Vlad | Nov 1, 2007, 3:13 pm |
| Response | observer | Nov 1, 2007, 2:36 pm |
| to observer | Stat Guy | Nov 1, 2007, 11:32 am |
| RE: In need of Reform? | Stat Guy | Nov 1, 2007, 11:22 am |
| To Observer: | Vlad | Nov 1, 2007, 9:19 am |
| State Regulation Needs to go | Observer | Nov 1, 2007, 6:23 am |
| Vlad | concerned agent | Oct 31, 2007, 3:11 pm |
| In need of Reform? | Vlad | Oct 31, 2007, 1:54 pm |
| Back to article | ||
Subject: Observer, May I Retort?
I suspected company person, however I would have guessed national not regional. With the expertise you have demonstrated in your responses I figured you had a pretty sizable dog in this fight.
To your point about the agencies you mentioned. I do not think you can compare the FTC or the office of comptroller and regulations with regard to regulating insurance. To develop and regulate the cost of loans or trades is far easier to accomplish than to regulate insurance. I think a closer comparison of bureaucracies would be the department of education. We all have districts with differences, yet we want to accomplish the same goal i.e. educting our children. This year's Education Department Budget is 55 Billion. Or how about the IRS annual Budget 10 Billion?
If there were a "Federal Regualtion" of insurance, are you saying that all State Department of Insurance offices would be eliminated or closed? If you are saying the Federal Regualtion will eliminate the State offices and save 11.7 Billion, then I am all for that part of the equation. However, just like the toll roads we pay for today, I have seen the governments "temporary" solutions or fixes almost always become permanent.