Filed Under:Carrier Innovations, Regulation/Legislation

Lew Confirmation Could Clear Way for Delayed Federal Insurance Initiatives

Corrected 2/28, 4:00 p.m.

The confirmation of Jacob Lew as secretary of the Treasury late Wednesday clears the way for action on several insurance-related issues, including the release of a long-delayed report on insurance-regulation modernization.

Indeed, at a hearing Wednesday, Rep. Gary Miller, R-Calif., vice chairman of the House Financial Services Committee, told Federal Reserve Board chairman Ben Bernanke that, “There's a tremendous amount of havoc in that [insurance] industry today because of what they don't know [about federal regulatory initiatives].”

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