National News
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Senate Banking Committee Urged to Back Federal Insurance Regulation
National News • July 30, 2008
The U.S. regulatory structure for the insurance industry puts companies at a disadvantage overseas and stifles innovation and competition for consumers, the industry told U.S. lawmakers ...
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| Subject | Posted By | Posted On |
|---|---|---|
| RE: RE: RE: Federal (non) Oversight | Rusty | Aug 5, 2008, 10:12 am |
| RE: RE: Federal (non) Oversight | Ratemaker | Jul 31, 2008, 12:02 pm |
| Innovation from weaker regulation | MAP in A2 | Jul 31, 2008, 8:31 am |
| RE: Federal (non) Oversight | matt | Jul 31, 2008, 8:15 am |
| Federal (non) Oversight | Joe B | Jul 30, 2008, 3:49 pm |
| FEDERAL INSURANCE REGULATION | J D Kull | Jul 30, 2008, 3:48 pm |
| you guys are wrong | Jul 30, 2008, 1:31 pm |
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| RE: The more I learn about this... | CBC | Jul 30, 2008, 1:06 pm |
| The more I learn about this... | KLS | Jul 30, 2008, 12:35 pm |
| Back to article | ||
Subject: The more I learn about this...
The state based system is flawed, for sure. We are in desperate need for uniformity among states regarding certain areas of regulation.
But Federal Gov'mint to the rescue? I have such a doomed feeling about that. I admit, my anxiety comes from the fact that so many of our legislators have proven themselves to be liars, cheats, and idiots. Insurance is complicated enough without a bunch of hot-air-bags in grey suits getting involved. (I've watched some of the hearings re: the OFC online and let me tell you, a lot of the Committee members don't know their head from a hole in the ground regarding insurance.)
There are enough difficulties dealiing with certain states' red tape. I have no reason to believe that dealing with federal red tape is going to be any easier.
A lot of us in the industry will be affected differently IF OFC actually happens. I can see valid arguments both for and against federal regulation of insurance. For several months, I've been on the fence about it myself.
But now I'm strongly leaning away from it. Let's not give up on the states yet.