House Lawmakers Offer US Insurance Charter Bill

By John Poirier
Reuters News Service

Two lawmakers in the U.S. House of Representatives on Wednesday introduced legislation that would create an optional federal charter for companies that provide life, property and casualty insurance. - The bill, called the National Insurance Act, would mirror the current dual structure for banks that want either a federal or state charter, said Melissa Bean, a Illinois Democrat, and Ed Royce, a California Republican, who introduced the bill.

Source: Reuters News Service (www.reuters.com)

From: Insurance Newscast (www.insurancebroadcasting.com)