NAMIC Calls for 'National Targeted Uniformity'

The National Association of Mutual Insurance Companies (NAMIC) has sent a letter to members of the U.S. Senate Banking Committee reiterating its warning against creating an optional federal charter (OFC) and calling for improved state regulation under the label "national targeted uniformity."NAMIC president and CEO Chuck Chamness called on Congress to play a limited role in reforming the system of insurance regulation at the state level.NAMIC said it supports pending legislation sponsored by U.S. Paul Kanjorksi, D-Pa., and backed by House Financial Services Committee Chairman Barney Frank, D-M...