Congressional approval of federal regulation for insurance appears unlikely for 2009, and prospects for an optional federal charter in the long term are dim–particularly for property-casualty firms, the head of the Federal Deposit Insurance Corp. indicated in a private briefing to p-c industry executives.

In addition, if insurance is addressed at all next year, the focus of the incoming Obama administration and federal banking regulators will be on the life insurance side of the business, not property-casualty, FDIC Chair Sheila Bair said in an off-the-record briefing to directors of the American Insurance Association on Nov. 14.

A copy of a summary of her remarks was obtained by National Underwriter and confirmed through other sources.

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