On the recordMay 13, 2009
I believe the subcommittee should move a comprehensive bill that establishes Federal regulation of all lines of insurance, property and casualty, reinsurance, and life.
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congress.govI believe the subcommittee should move a comprehensive bill that establishes Federal regulation of all lines of insurance, property and casualty, reinsurance, and life.
Melissa Bean advocates for comprehensive federal insurance regulation.
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More from Melissa L. Bean
Since we started working on this issue, much has changed in our system. After committing nearly $200 billion of taxpayer dollars to AIG, the need for Federal regulatory oversight has never been greater.
The AIG insurance company is solvent. They got additional capital through this latest round but it did not take an insolvent company and make it solvent.
No one that is advocating for a national insurance charter in any way is suggesting that we lower consumer protections.