NU Online News Service, April 3, 3:19 p.m. EDT

A bill introduced in Congress yesterday establishing some federal regulation over the insurance industry has drawn opposition from an insurance agents group while the two major insurers are supporting the move.

The measure, which would create an optional federal insurance charter system and Office of National Insurance responsible for issuing charters as well as a national commissioner to regulate insurers, predictably drew condemnation from state insurance regulators.

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