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Missouri DOI Head Huff Supports State Regulation

Missouri Insurance Director John M. Huff told insurance agents that states, rather than the federal government, should continue to regulate the insurance industry. Huff agreed...
July 29, 2009

Missouri Insurance Director John M. Huff told insurance agents that states, rather than the federal government, should continue to regulate the insurance industry. Huff agreed that states have successfully regulated insurance for more than 150 years, and that system should continue.Huff made the comments while addressing members of the Missouri Association of Insurance Agents, which is affiliated with PIA. MAIA Executive Vice President Larry Case said MAIA strongly opposes federal regulation of insurance.

"For a century and a half, states have been protecting consumers, ensuring fair competition and affordable products," said Huff. "The prospect of an optional federal charter will dilute consumer protections by allowing some companies to choose the weaker regulatory option."