Montana Republican Criticizes Bush Administration Proposal

The Republican candidate for Montana state auditor and insurance commissioner is criticizing plans by the Bush Administration for the federal government to take over regulation of the insurance industry.

Duane Grimes says it would be mistake to put a “federal bureaucracy” in charge of insurance regulation.

Critics say an administration plan for overhauling the financial system contains a power-grab of insurance regulation. They argue consumers are better protected by having a state-level advocate during insurance disputes.

Grimes also says that former Republican Gov. Marc Racicot, now an insurance industry lobbyist, is on the wrong side of the issue.

Grimes is running for Montana state auditor against Democrat Monica Lindeen. Current state Auditor John Morrison, a Democrat, also has criticized the plan.