Federal Threat Looms Over Market Conduct Debate State regulators hope to head off intervention from Congress via SMART bill
Will Congress mark the 60th anniversary of granting states the right to oversee insurer market conduct by taking that authority back? Not if state insurance regulators have anything to say about it.
To preserve their individual autonomy, insurance commissioners have worked together with state legislators to cobble together a new model market conduct oversight system. However, it remains to be seen whether they will prevail against members of Congress who believe federal action is required to shore up the patchwork means devised over the years to protect consumers.
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