As consideration of financial services reform legislation moves to the Senate floor, the insurance industry is endeavoring to stop any inclusion of property/casualty insurers in a bailout fund for systemically risky companies.

In a letter to Senate Majority Leader Harry Reid (D-Nev.) and Senate Minority Leader Mitch McConnell (R-Ky.), the American Insurance Association, the National Association of Mutual Insurance Companies and the Property Casualty Insurers Association of America asked that insurers not be made to pay for resolution of unrelated financial services providers as suggested in provisions of the Restoring American Financial Stability Act of 2010.

Register or login for access to this item and much more

All Digital Insurance content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access