Federal Regulatory Proposal

Business Insurance - Corporate Risk and Employee Benefit Management news House panel unveils preliminary regulatory reforms by Meg Fletcher Posted on Aug. 23, 2004 3:29 PM CST Washington��The House Financial Services Committee has developed preliminary legislation that calls for extensive deregulation of both commercial and personal lines coverages. The “staff discussion draft�� entitled The State Modernization and Regulatory Transparency Act, also would establish a seven-member group to implement “a coordinated state-national partnership�� that would oversee changes, but it stops short of giving that group regulatory authority. The partnership would include three insurance commissioners representing small, medium and large states; as well as federal designees from the Securities and Exchange Commission, the Treasury Department and the Federal Reserve System. .... I haven't yet been able to find a copy of this discussion paper, but I will post it as soon as I can find one.