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Be Careful What You Wish For

When push came to shove in Congress, the insurance industry had to anticipate that the foes of tort reform were bound to push back at some point. The counterattack came when Sen. Ernest F. Hollings, D-S.C., introduced a bill to establish federal regulation of insurance.

The bill has virtually no shot of passage–no more of a chance, that is, than a tort reform bill, given the thin margin separating the two major parties in Washington. However, Robert Rusbuldt, CEO of the Independent Insurance Agents and Brokers of America, who was a longtime power broker on Capitol Hill, was insightful in his analysis that the move by Sen. Hollings was still a sharp message to the industry.

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