Regulatory Change

Industry eyes today will be on the news out of the Treasury department, where U.S. Treasury Secretary Henry Paulson is expected to outline the agency’s blueprint for federal regulation of financial services, including insurance. Word on the street is that the Treasury’s plan would endorse optional federal charters (OFC) for both insurers and producers. It would also propose the creation of an interim federal insurance regulator. Check out National Underwriter’s March 31 online article by Arthur Postal and Daniel Hays for more information on the proposal. Check out the I.I.I.’s online update on the OFC.

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