(p28738) - STATE VERSUS FEDERAL REGULATION OF INSURANCE
Mr. THURMOND. Mr. President, one of the recurring issues which comes before the Senate is the notion that the Federal Government can do a better job than the States in regulating insurance.· History should teach us· a lesson. The Federal Government has certainly not made a record of excellence as a regulator. Regulatory reform is now one of the key issues in the Senate.
Mr. President, I ask unanimous consent that the editorial "Federal Insurance Control Looms Again," from the State, Columbia, S.C., October 14, 1979. be printed at this point in the RECORD.
Armed with a new report from the General Accounting Office citing flaws and abuses
in state insurance regulation, some members
of Congress are likely to push again for federal takeover of insurance regulation. The GAO report should be further warning for the states to stand guard and clean up their insurance acts where necessary.
Portions of the GAO report certainly have merit. A case in point: it urges the regulators and the industry to provide consumers with more information about insurance
needs and cost options
1993 0525 - GOV (Senate) - When Will Policyholders Be Given The Truth About Life Insurance?, Howard Metzenbaum (D-OH) --- [BonkNote]