In early April, Senators John Sununu (R-N.H.) and Sen. Tim Johnson (D-S.D.) introduced a bill that would establish a federal program of insurance regulation that would operate in conjunction with the current state-based system.

Specifically, the act seeks to create a system of federal chartering, licensing, regulation, and supervision for insurers and insurance producers that is independent of the existing state system of insurance licensing, regulation, and supervision. Also, it would create a new government agency called the Office of National Insurance that would be funded by assessments imposed upon the insurance industry and would be led by a commissioner of national insurance.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.


  • All news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including and

Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.



Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join now!

  • Unlimited access to - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including, and
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2023 ALM Global, LLC. All Rights Reserved.