Almost all insurer and agent groups were quick to take sideswhen legislation was introduced in the Senate to establish anoptional federal charter. Stepping back was one leader who haslived on both sides of the regulatory fence. For now, he'd rathersit on that fence–while offering fair warnings based on his uniqueexperience.
The OFC legislation sponsored by Sens. John Sununu, R-N.H., andTim Johnson, D-S.D., takes a more radical approach than the HouseSMART bill, which would set federal standards for stateregulators.
The minute the Senate bill was introduced, determined opponents(IIABA, PIA and NAMIC) and enthusiastic backers (AIA and CIAB) drewlines in the sand. Writing out their full names would take up halfthis column, but suffice to say they are preparing for a hugelobbying battle.
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