NCOIL To Dodd: State Regulation Works, OFC Would Not

The National Conference of Insurance Legislators (NCOIL) today reinforced its strong opposition to insurance optional federal charter (OFC) proposals, and asserted that there is limited support for this approach. In a letter to U.S. Senate Committee on Banking, Housing & Urban Affairs Chairman Christopher Dodd (D-CT), NCOIL Officers wrote that, “If the ongoing financial crisis has taught us anything, it is that state-based insurance regulation continues to safeguard American consumers and the insurance industry.”

http://insurancebroadcasting.com/insurance-news-031809-le1.htm