Who Needs Federal Regs?

To The Editor:

On page 28 of the Sept. 30 edition of National Underwriter, David Snyder of the American Insurance Association in Washington published an opinion piece headlined: “Insurers Beware: Juries Are Being Turned Into National Insurance Regulators.”

While most in the insurance industry would certainly agree with Mr. Snyders heed for concern, I find it most ironic that AIAs assistant general counsel would bolster his argument by pointing out how runaway juries “undercut one of the foundations of state regulation of insurance.” Isnt that precisely the goal of AIAs federal chartering bill?

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