WASHINGTON–An aide to a key House member said his boss isconsidering drafting optional federal charter legislation forinsurers that would mandate they offer consumers an “all perils”policy.
Todd Harper, a legislative assistant to Rep. Paul Kanjorski,D-Penn., said that the concept of an optional federal charter forinsurers “is an idea that is increasingly gaining in attractivenessin Washington.”
However, he added that Mr. Kanjorski, one of the seniorDemocrats on the Financial Services Committee and the seniorDemocrat on the key Capital Markets Subcommittee, believes that agive and take is necessary in legislating and that he has ponderedthe idea of “some kind of requirement for an all perils policy” forcompanies seeking to be federally regulated.
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