NU Online News Service, May 11, 10:45 a.m. EDT,Washington--Ohio's HouseInsurance Committee yesterday passed a resolution asking the U.SCongress not to enact legislation imposing federal standards oninsurance regulation.

The panel's action yesterday comes as an embarrassment to theirhome state congressman, Rep. Mike Oxley, R-Ohio, who chairs theHouse Financial Services Committee, which is crafting thelegislation known as the State Modernization and RegulatoryTransparency Act (SMART).

The panel voted 14-1 to ask the state Legislature to pass thesame resolution and send it to the leadership of both parties ofthe U.S. Congress.

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