WASHINGTON–Advocates of continuing state regulation for the insurance industry have an ally in one of Maine's senators, who told an agent's group that she is against the idea of an optional federal insurance charter.

Speaking to agents and brokers here today during the annual Independent Insurance Agents & Brokers of America Legislative Conference and Convention, Sen. Susan Collins, R-Maine, pronounced her opposition to OFC in no uncertain terms.

"I believe the present system of state regulation largely works. The answer is not to disrupt that system by concentrating more power in Washington, D.C.," Sen. Collins said.

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