Collins Amendment makes its introduction
May 1, 2014 by Arthur D. Postal
As expected, legislation was introduced in both the House and Senate Tuesday aimed at clarifying that federal regulators must use state-based metrics in overseeing insurance companies.
The Senate version is expected to be added to legislation reauthorizing the Terrorism Risk Insurance Act that industry officials anticipate will be taken up by mid-May in the Senate Banking Committee.
The American Council of Life Insurers voiced strong support, as did all three primary property and casualty insurance trade groups voiced strong support for the legislation and urged its prompt passage.