• Optional Federal Charter Gains Prominent New Support
  • February 23, 2007 | Author: Frederick J. Pomerantz
  • Law Firm: Wilson Elser Moskowitz Edelman & Dicker LLP - New York Office
  • The Reinsurance Association of America (RAA), the largest trade association representing U.S. reinsurers, has joined representatives of banks, life insurers, and major commercial insurers and brokers in the Optional Federal Charter Coalition to seek a federal insurance regulator. The moves gives new prominence to calls in recent years by many insurance industry organizations for comprehensive regulatory reform that recognizes the global nature of the insurance and reinsurance markets. It is an issue that could come before the new Congress in the coming months.