Political Quotes

GARY G. MILLER: “It is essential that Congress fully understand the impact international regulatory standards will have on the…”

On the recordJune 12, 2013
It is essential that Congress fully understand the impact international regulatory standards will have on the competitiveness of U.S. insurers.
Said by
GARY G. MILLER
California

Editor's note · Context

Miller stresses the need for Congress to grasp international regulations' effects on U.S. insurers.

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More from GARY G. MILLER

Jun 12, 2013

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.

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

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I have always had a problem with the way they were fundamentally flawed. You had a hybrid situation where the private sector made all the profits, and the taxpayers took all the risk, which was problematic from the beginning.

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