NU Online News Service, March 19, 2:07 p.m. EDT
WASHINGTON–Ten large property and casualty insurers today asked leadership of the Senate Banking Committee to exempt the industry from federal oversight in financial services reform legislation that will be marked up starting Monday.
In a letter to the committee, the 10 insurers, calling themselves the Property & Casualty Leaders Coalition, said they oppose "misdirected" provisions of the legislation "that would shift the cost of failures of financial institutions outside of our sector to our customers."
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