The Bush administration will testify on insurance oversight this week before the U.S. Senate Banking Committee in another sign of growing federal interest in revamping the industry's regulatory landscape.

The July 18 hearing will follow last Tuesday's session on regulatory reform, during which representatives of industry groups clashed--while senators argued among themselves--over what should be done. Industry lobbyists said it is likely the committee will hold another hearing in September.

Offering the White House's "Perspectives on Insurance Regulation" this week will be Randal K. Quarles, Treasury undersecretary for domestic finance. However, a Treasury Department representative sought to dampen speculation the administration might use the hearing to outline its views on optional federal charter legislation introduced in the Senate in April.

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