Groups ask Congress to scrap federal authority over troubled insurers
Legislation aimed at addressing the issue of systemic financial risk should not allow federal banking officials to regulate troubled insurers, according to letters sent by insurance trade associations to lawmakers. Regulatory reform legislation instead "should focus on truly systemically risky entities that are not currently regulated adequately for systemic risk and not already subject to an effective resolution system," PCI President David Sampson said.
National Underwriter | 11/02
This story published in PCI SmartBrief on 11/03/2009
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