Life Insurance Industry: Let Us Choose State Or Federal Regulation

As the Obama administration puts the finishing touches on a plan to overhaul financial regulation, the life insurance industry today issued a plea for one of its top priorities: giving insurers the ability to choose whether they are supervised by state or federal regulators, The Post's David Hilzenrath reports.

Life insurers are currently regulated at the state level, making it hard for the federal government to monitor their financial health and any risk they might pose to the broader economy. The American Council of Life Insurers, an industry lobby, says that a federal overseer is needed, but it wants insurers to be able to choose whether to submit to its oversight...

WaPo: Life Insurance Industry: Let Us Choose State Or Federal Regulation