Federal Insurance Regulation Quote du Jour

Seen in a Reuters story about Senate hearings regarding the Optional Federal Charter concept:

"The insurance industry is very pragmatic in their selection of a preferred regulator; they always favor the least regulation."

Comment made by Travis Plunkett, legislative director with the Consumer Federation of America

Having just been through a wave of filings for a new countrywide product, during which we were asked the same questions over and over by the various states…and also experienced conflicting demands, sometimes even within a given state…I wonder why it might be that insurers favor less regulation.