The insurance industry is urging the federal government to have states regulate insurance exchanges as proposed in the Senate version of the health reform bill. In a letter to House Speaker Nancy Pelosi, D-Calif., and Senate Majority Leader Harry Reid, D-Nev., six top officials from the industry said that state regulators are "closer to consumers and have a better understanding of the markets they regulate than a single national regulator in Washington, D.C., could have."

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