The U.S. Chamber of Commerce issued a statement of principles on insurance regulatory reform last week that opposes rate regulation but does not take a stand on whether oversight should remain state-based or directly involve the federal government.
Opponents of legislation that would create an optional federal charter were buoyed by the Chamber's apparent decision not to step into the battle over whether the best approach was the current state-based system, or if companies and agents should instead be given the option to have federal regulation.
However, supporters of an OFC also took comfort in the Chamber statement.
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