In the wake of a financial economic crisis, lawmakers and policy analysts have debated the role of federal regulation in the insurance industry. On April 2, Reps. Melissa Bean (D-Ill.) and Ed Royce (R-Ca.) introduced the National Insurance Consumer Protection Act in Congress. This bill would create the option of federal regulation for insurance companies.

Enormous debate has erupted around the idea of optional federal chartering for insurance companies. Groups on both sides of the issue have offered numerous arguments for and against the concept.

Proponents promise a freer, more open market for insurance that would benefit consumers and the economy. Opponents, on the other hand, believe that a new federal regulator will impose burdensome bureaucratic rules, squelch competition, and needlessly increase federal power.

This website provides a free market perspective on the idea of optional federal insurance chartering.

American Insurance Association

The American Consumer Institute
Center for Citizen Resarch