Fed Oversight of State Insurance

With the financial reform bill just passed by congress, there will be a Federal office to "keep an eye" on State regulatation of insurance. To me this is a precursor to Federal regulation of insurance. It is only going to take one or two insurance companies to make  financial mistakes and the Feds will pounce. Insurance can only be effectively regulated by States because of the need to be close to the consumer. A Federal regulator could never be as close to the insurance consumer as a State regulator is. Stay tuned. Until next time be careful out there and know your risks. K

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