Insurer groups seek changes to financial-reform bill

Insurance trade groups are moving to urge lawmakers to revise language in the financial-reform legislation that could adversely affect the industry, particularly the provision that would require large insurance carriers to contribute to a prefunded systemic-risk fund. The provision would be unfair for the industry as insurers did not present a systemic risk like other financial firms, which spurred the recent financial crisis, said PCI's Ben McKay. "If you're going to make us pay, you shouldn't make us pay for a more risky firm," he added.

View Full Article in:

Wall Street Journal, The · Business Insurance (tiered subscription model)

Published in Brief: