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Insurance lobby fights federal insolvency plan
Washington AP An intense coast to coast lobbying push opposes a bill creating a Federal Insurance Guaranty Corp to cover insolvent mutual and other auto insurers. AMIA, representing 120 mutual firms, argues regulation should stay at the state level while pushing for state insolvency laws to curb federal action. The bill has broad congressional support and faces hearings February 10 with floor action possible before autumn.
MENTIONED IN THIS ARTICLE
Washington
Nation’s Mutual Insurance Com
Surance
American Mutual Insurance Alliance
AMIA
Senate Commerce Committee
Warren G. Magnuson
D-Wash
Federal Insurance Guaranty Corp
Alliance
Congress
Magnuson
American Insurance Association
AIA
Mutuals
National Association of Independent Insurers