A flurry of letters have been sent by insurance trade groups on opposite sides of the debate over legislation creating optional federal chartering of insurers, seeking to get or keep the support of the National Governors Association for their particular view.
At least for now, it appears those opposing a dual regulatory system have the upper hand with the governors, as three property-casualty insurance agent groups lauded the NGA for maintaining its position against the proposed regulatory change in the face of what the Independent Insurance Agents and Brokers of America termed "well-funded" support for OFC legislation.
Agent group letters to the NGA were prompted by a letter last month from the American Insurance Association and the American Council of Life Insurers to the group urging the governors' organization to reverse its position and support legislation creating an OFC.
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