Insurance industry trade groups Tuesday urged Congress topromptly pass legislation designed to partly roll back federalauthority to oversee or monitor insurance companies enacted as partof the Dodd-Frank financial reform act.
The hearing on bills aimed at "reforming" domestic insuranceregulatory policy was held by the Subcommittee on Housing andInsurance of the House Financial Services Committee.
Officials of the National Association of Mutual InsuranceCompanies and the Property Casualty Insurers Association of Americatestified in support of the bills. An official of the AmericanCouncil of Life Insurers spoke strongly in favor of enactment ofH.R. 4510, the Insurance Capital Standards Clarification Act of2014.
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