Would federal regulation better protect big commercial buyers? The Risk and Insurance Management Society's leadership definitely thinks so, but I am not so sure.
RIMS enthusiastically endorsed the recent call by the Bush administration for an optional federal charter as part of a broader overhaul of financial services regulation.
"The risk management and commercial insurance buyer community has long supported the concept of an optional federal charter, and believe that a regulatory system structured in the method proposed will provide an effective and much more efficient process to manage insurance transactions for policyholder operations," Terry Fleming, a RIMS director who oversees legislative issues for the Society, said in a statement.
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