* Rates: The Schumer bill eliminates state rate regulation, while the LaFalce bill subjects national insurers to state rate regulation.* Forms: The Schumer bill eliminates prior review of policy forms, while the LaFalce bill requires national insurers to obtain prior approval from the director of the federal agency.

* Agencies: The Schumer bill allows for national charters for agencies and national licensing for producers, while the LaFalce bill has no such provisions.

* Market conduct: The Schumer bill prohibits national insurers from unfair trade and claims practices and discrimination. The LaFalce bill also does, but holds state insurers to the federal standards as well.

* Consumer protection: The Schumer bill has no provision for consumer protection, while the LaFalce bill would establish a consumer affairs division within the national office.

Source: ABIA

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