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Reweb - US Congress hears Rims testimony.
(From Reinsurance)
Janice Ochenkowski, vice-president of the Risk and Insurance Management Society (Rims), has testified before Congress on the need for a streamlined insurance purchasing process in the US.
Appearing before the House financial services subcommittee on capital markets, insurance and government sponsored enterprises, Ms Ochenkowski said that although Rims continues to support an optional federal charter, the charter solution appeared to be too extreme and premature for the current situation.
At present the rules concerning the sale and regulation of insurance differs from state to state in the US, leading to calls for a national solution.
Ms Ochenkowski added: "In this increasingly ...
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