Washington — Officials at the Troy, N.Y.-based
The letter coincides with hearings the committee held in which witnesses supported establishment of an optional federal charter for insurers.
“The stability of state-regulated insurance companies during this ongoing financial crisis, as compared to other financial sectors, demonstrates the effectiveness of our state insurance laws and regulations,” the NCOIL letter states. “While finger-pointing will not repair the problems with the present system, we are proud to note that state-regulated insurers were largely unharmed when compared to federally regulated banking and investment institutions.”
Source: National Council of Insurance Legislators