President Obama Proposes Creation of Office of National Insurance

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No doubt some of you have heard about Obama's proposal to reform the financial system. If you have not seen a copy of it, it can be found here.

One of the summarized recommendations in the attachment is as follows:

"H. Enhance Oversight of the Insurance Sector

Our legislation will propose the establishment of the Office of National within Treasury to gather information, develop expertise, negotiate international agreements, and coordinate policy in the insurance sector. Treasury will proposals to modernize and improve our system of insurance regulation accordance with six principles outlined in the body of the report."

In terms of providing guidance on what the Treasury will consider in improving insurance regulation, the plan sets forth the following six principles...

Please see full post for more information.

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