Quackenbush Case Prompts Call for Federa

The debacle currently involving California Insurance Commissioner Chuck Quackenbush and the Northridge quake settlements has sparked a national debate over replacing state-based regulation of the insurance industry with federal oversight. Some critics are using this case as an example in calling for federal oversight of the industry as a way to bring consistency to the insurance industry. 'State regulators are notoriously weak; it is easy for the insurance companies to influence them,' said Bob Hunter, director of insurance for the Consumer Federation of America (CFA) and a former Texas ...