Insurance Regulatory Moves

The future shape of insurance regulation in the United States is one of many topics that elicit a wide range of views within the industry. So insurers will be closely monitoring the  progress of a revised insurance regulatory bill, the National Insurance Consumer Protection and Regulatory Modernization Act, which is expected to be introduced in the House next week. Sponsored by Rep. Melissa Bean, D-Ill., and Rep. Ed Royce, R-Calif., the bill would create a national office of insurance regulation (OIR). It would also call for a new systemic risk regulator and strengthened consumer protection. For more on this story, check out February 11 online articles at Business Insurance and at National Underwriter. Check out further I.I.I. information on regulatory modernization and the optional federal charter (OFC).  

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