Hoping to move the discussion beyond the theoretical, a new study funded by proponents of an optional federal charter (OFC) for insurers say a consolidated regulatory structure would have many practical benefits.
The Washington-based consulting firm Promontory Financial Group Llc, undertook the study at the behest of the American Council of Life Insurers (ACLI), American Insurance Association (AIA) and the Financial Services Roundtable (FSR). Promontory reported their findings in a 77-page reported titled “The Proposed Office of National Insurance: Organization, Functions, Size and Cost.”
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