A.M. Best reports that a move is a foot to put the federal government in charge of insurance regulation.
Rep. John LaFalce, D-N.Y., the top Democrat with the House Financial Services Committee, introduced a bill yesterday entitled, 'The Insurance Industry Modernization and Consumer Protection Act'.
The American Insurance Association, which last summer released a draft for an optional federal charter, went on record with Best to state that it appreciates LaFalce's interest and is glad he wants to advance the debate on federal regulations, but has concerns about his plan because it would put...
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