Posted On: November 19, 2008, 1:12 pm CST

Posted By: cjb

Federal Regulation (or lack of it) is what caused the problem at AIG Financial. This was not AIG Insurance who is regulated by the State Insurance Division. The problem is that there is a small group at the NAIC that believes federal regulation is the answer. Most are clue less when it comes to insurance laws and regulations. They are only looking to increase the insurance company revenues and make it easy to sell products that will not protect the consumer buying public at all! And who will be sued over these bad products? The insurance agents who are selling the policies that's who! The insurance agents of this country should be up in arms over the very thought of federal regulation! Look how the federal government has ran our country. Getting involved in the insurance business would be a disaster!