Washington
Trade groups representing insurers, brokers and commercial policyholders called on the U.S. Senate last week to reject an amendment to financial services reform legislation they charge would "substantially weaken" the ability of a proposed Office of National Insurance to address "critical" trade issues.
The amendment, crafted by Sen. Jeff Merkley, D-Ore., would narrow the authority of the Treasury Department to negotiate international insurance trade agreements without the approval of state insurance regulators.
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