NU Online News Service, Dec. 15, 3:22 p.m. EST
State-based insurance regulation has an “inherent weakness”—the ability to stray from or misinterpret national standards or model laws, says the Risk and Insurance Management Society Inc.
In a letter to Michael McRaith, director of the Treasury's new Federal Insurance Office, RIMS recommends more federal oversight in making uniform, nationwide insurance regulations to make it easier and less expensive for commercial insurance buyers to access the right coverage.
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