WASHINGTON–The U.S. Chamber of Commerce has issued a statement of principles on insurance reform, opposing rate regulation but taking no stand as to whether future regulation should be state- or federal-based.

Opponents of legislation that would create an optional federal charter system were buoyed by the Chamber’s apparent decision not to step into the battle over whether the current state-based system or giving companies and agents the option to have federal regulation was the best approach. But supporters of an OFC also took comfort in the Chamber statement.

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