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 KittensComeHome12
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Well, this week was rather eventful, with quite a bit of media play for a pair of topics I’m frequently interested in. Of course, I’ve been pulling 12-14 hour days as a couple of projects I’ve been working on blossomed. First, there was quite a bit of fuss over the administration finally releasing its plans for [...] 
A couple of days ago, Martin Grace, a.k.a. RiskProf, noted: Last week I had the privilege of testifying before Congress on the future of insurance regulation (more on that later). Today, I received a copy of a book edited by Bob Klein and me with the same title. It does not appear to be on Amazon [...]
Via Insurance Journal: Rep. Melissa Bean, D-Ill., and Rep. Ed Royce, R-Calif., introduced their bipartisan insurance regulation reform legislation called The National Insurance Consumer Protection Act (NICPA). The Act would create a robust federal regulator for insurance to act as an alternative to the antiquated, non-uniform system of state insurance regulators currently in operation, the legislators [...] 
I mentioned earlier today that I’m a bit busy at the day job. Without going into specifics, one of the big items on my to-do list is culling through laws and regs in all 55 state/territorial jurisdictions in the U.S. to answer a couple of particular odd questions. (Yes, normally this would be a compliance/government affairs function, [...]
As I kill time waiting for my flight home, I notice that there are two articles in my reading pile continuing the rumblings of federal regulation of insurance. This Insurance Journal article doesn’t contain new information, but adds to the mutterings: Federal regulation in the United States — something that most other nations already have — is [...]
Seen in the WSJ’s Washington Wire blog: Speaking at a conference in New York held by a financial sector trade and lobby group, Schumer said he expected to see the Treasury Department run by officials that have “an understanding of business and (are) pro-regulation.” The New York senator said he expected Obama to appoint “someone in [...] 
In the past couple of weeks, I’ve heard various folks express opposing views on whether the free market theory remains valid in light of recent events, or on whether the U.S. has “too much” or “too little” regulation. I think those folks may be getting hung up by such polarized views. One of the problems we have [...]
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 [...]
One of the things I learned during my days working on credit modeling is that banks are very thankful for the freedom arising from the very light hand of federal regulation, and they are not shy at all in using that freedom to maximize revenue. Considering some of the games banks play with credit card customers, [...]
This article at Insurance Journal caught my eye: The Professional Insurance Agents Association of Ohio (PIA) recently testified before the House Insurance Committee in support of a resolution for Ohio to formally oppose any “new layers of needless federal bureaucracy to insurance regulation.” Of course, I had to see that comment about an hour after I received [...] |
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