The Bush administration may have rocked the insurance world last week by including optional federal charters for insurance companies, agents and brokers in its proposed overhaul of financial services regulation, but getting its sweeping reform package through Congress will be "difficult," the blueprint's architect says.
Indeed, the Treasury Department report detailing the administration's call for an historic regulatory reorganization conceded that a "difficult and ongoing" debate lies ahead to secure congressional approval.
Insurance industry reaction was split along the usual fault lines, depending on whether a particular association's membership supports or opposes optional federal charters.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
