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2003 PIA Position Paper: Optional Federal Charters

The PIA National Federal Affairs Committee has designated Optional Federal Charters for Insurance as one of three primary issues of focus for the 2003 PIA...
February 10, 2003

The PIA National Federal Affairs Committee has designated Optional Federal Charters for Insurance as one of three primary issues of focus for the 2003 PIA Federal Legislative Summit in Washington, D.C. and the 108th Congress. The others are Privacy and Natural Disaster Legislation.

PIA National is opposed to optional federal charters for insurance entities and the dual/parallel state-federal regulatory system that they require.

"PIA members will be telling lawmakers why a dual federal-state system of insurance regulation will not work and is not in the public interest," said PIA Senior Vice President of Government Affairs Patricia A. Borowski. "Lawmakers must realize the need to strike a balance between the need for national uniformity in standards and the demands of our emerging multi-state markets, within the framework of functional state regulation."

2003 PIA Position Paper: Optional Federal Charters