To guide the successful modernization of the Financial Services sector, and in response to numerous calls for an optional federal charter and the federalization of insurance, PIA has issued "PIA’s Roadmap to State Regulatory Modernization."
The PIA Roadmap to State Regulatory Modernization:
- Preserves the state-based structure of insurance oversight.
- Achieves insurance regulatory modernization.
- Protects the integrity and standing of state insurance law.
- Ensures competitive equity for all marketplace participants in an efficient and cost-effective manner.
The May 2008 special edition of PIA Connection (large PDF file) details “PIA’s Roadmap to State Regulatory Modernization.”
PIA supports the continued regulation of insurance by the states and opposes federal regulation of insurance.
- PIA opposes the National Insurance Act of 2007, S. 40 and H.R. 3200, and all proposals calling for Optional Federal Charters (OFC) for insurance.
- PIA supports continued modernization of the state-based system of insurance regulation. The state based system is the most efficient and experienced oversight system. It accommodates needed changes better than any federal process.
- PIA supports states achieving modernization goals through an all-states compact, a proven alternative to OFC.
To learn more about PIA's position on Federal Interference in the State-Based Insurance Regulatory System, read the February 2008 Federal Interference in the State-Based Insurance Regulatory System PIA Position Paper (PDF file).
In this section you'll find information about:
- Optional Federal Charter
- Producer oversight;
- Rate & form;
- Interstate Compact;
- Market conduct;
- Carrier licensing;
- Actions by the Office of the Comptroller of the Currency (OCC);
- Tying;
- Gramm Leach Bliley Act (GLBA);
- McCarran-Ferguson;
- Other related topics
Please see the "Related Stories" to the right to keep current with this fast moving, fluid topic.
Be sure to visit the Producer Licensing section of PIANET.