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Would it not be a good idea to look at this glass as being half full rather than half empty? While there may be negatives with Federal involvement in insurance, surely there will be some positives. Think about it!
Mike
It seems the Senator’s comment “A lot of people at the federal level are making a lot of decisions and they don’t know what they’re doing,” is reason enough to have a cadre of people in the federal government who understand insurance. Insurance is a major part of our national economy and it’s only reasonable that the federal government better understand the business, its strengths and weaknesses. After all the business is a highly regulated one albeit with 50 plus versions of regulation (with NAIC serving as the super-regulator in an effort to address the shortcomings due to the lack of a national regulatory perspective. I am not calling for more regulation, but more efficient and insurance customer friendly insurance regulation. It’s important in this day and age to have an open discussion and seek the ground that best serves the business, the people who make it work and most importantly, the people who buy and use the products.