Washington--The introduction of federal legislation establishing an optional federal charter for life and property-casualty insurance companies is "imminent," according to several industry sources.
It could be introduced as early as late this week, or April 24 when Congress returns from its spring recess, according to a number of insurance industry lobbyists who asked for anonymity out of concern their statements could damage relations with committee staff involved in the drafting process.
The bill is being introduced by Sens. John Sununu, R-N.H., and Tim Johnson, D-S.D. No additional co-sponsors have agreed to join them, the lobbyists said.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
