The head of the Des Plaines, Ill.-based Property Casualty Insurers Association of America (PCI) says the proposed National Insurance Consumer Protection and Regulatory Modernization Act does not address the interrelated risks that threaten the health of insurance companies.

David Sampson, PCI’s president and CEO, contends that the nation’s lawmakers should fix a broken credit and banking system before contemplating an rewrite of the rules that insurance companies abide by.

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