WASHINGTON–State insurance regulation prevents U.S. insurers from being globally competitive, a reinsurance industry official and former Federal Reserve Board governor told a recent industry meeting.
The comments came from Roger Ferguson, chairman, head of financial services for Swiss Re America and former vice chairman of Federal Reserve Board.
He spoke at a seminar on, "Will an optional federal charter for insurers increase international insurance competition?" held by the American Enterprise Institute, Dec. 20.
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