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December 10, 2007 at 03:13 PM
The Business Roundtable is asking congressional committee leaders to give insurers the option of choosing between state and federal regulation.
“Our current state-based insurance regulatory structure is one that reflects an economy as it existed in the mid-20th century,” Business Roundtable President John Castellani writes in a letter sent to House Financial Services Committee Chairman Barney Frank, D-Mass., and Rep. Spencer Bachus, R-Ala., the most senior Republican on the committee.
The Business Roundtable, Washington, also sent the letter to Senate Banking Committee Chairman Christopher Dodd, D-Conn., and Sen. Richard Shelby, R-Ala., the most senior Republican on that committee.
