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Article: Pressure to unify regs builds; Congress to hold hearings on state insurance rules.(News)
- Article from:
- Investment News
- Article date:
- March 29, 2004
CopyrightCOPYRIGHT 2004 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Sara Hansard
The House Financial Services subcommittee on capital markets this week will begin considering legislation aimed at pushing state insurance regulators to unify their regulations.
Committee Chairman Michael Oxley, R-Ohio, outlined a plan this month to create a "federal-state advisory council'' to unify state insurance regulations. He announced the plan, which will be the basis for legislation, at the spring meeting of the Kansas City, Mo.-based National Association of Insurance Commissioners.
While Mr. Oxley stopped short of pushing for optional federal insurance regulation that insurance companies have called for, his plan ...