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New and Old Bills

By: ELA (Wed, Jun/03/2009)

Congress was busy last week, filing a series of bills that have been well debated and, in the case of some, widely supported.

For instance, producer licensing reform and surplus lines and reinsurance regulation modernization – are there any segments of the insurance industry that do not want these to become law? I’m just curious, because it seems like an optional federal charter has a better shot of passing Congress than these measures that have such broad consensus from the insurance industry.

It may be that federal lawmakers enjoy enacting controversial laws more and the industry should quarrel a bit more amongst itself to heighten the sense of legislative drama. It’s just like when there is a big plate of cookies in the office lunchroom. Everyone’s all, “I don’t want a cookie” and “No, thanks” and then, suddenly, when the cookies are gone – I WANT A COOKIE.

Actually, it is entirely possible it’s not like that at all. I might just be hungry. You get the idea, though. Congress seems so preoccupied by other issues and content to keep filing the same legislation over and over again. And perhaps the industry is content as well – should the federal government get a taste for passing insurance-related measures, it could begin to branch out and dabble in areas of reform (such as wresting regulatory control from the states) that segments of the industry favor less.
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