GARY G. MILLER: “I think it's incumbent on us to demonstrate to the American people that we're trying to do the right thing.”

For the past century, and through multiple financial crises, the State-based insurance regulatory system in the United States has been successful and has protected policyholders.

I enjoyed your opening statement. You talked about empowering consumers, fair, transparent, and competitive marketplaces, and dealing with bad actors.

While I strongly believe in coordination among international regulators, we must resist the tendency of pursuing a one-size-fits-all approach.

Yet, by requiring this Davis-Bacon mandate, we are beating up the price of apartments and condos and townhomes by 20 to 25 percent.