http://thelifeinsurancereview.com Where Life Insurance is Talked About Fri, 30 Dec 2011 09:57:51 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 http://thelifeinsurancereview.com/news/new-federal-government-oversight-agency-in-the-works/ http://thelifeinsurancereview.com/news/new-federal-government-oversight-agency-in-the-works/#comments Sat, 05 Apr 2008 14:30:05 +0000 Avatar http://thelifeinsurancereview.com/news/new-federal-government-oversight-agency-in-the-works/ Hearing in the House Financial Services Committee’s Capital Market’s Sub-Committee has received a proposal for the creation of an oversight agency that would work with state legislators by providing timely information about the industry as a whole. The move is being opposed by many providers for they see a lot of loopholes citing the meddling of too many people in a previously self-regulated industry. The amount of influence this agency would have would be so grave that any misinformation or interpretation of the industry can mean the difference between making the cut or not in the field. This has long been opposed by providers and state legislators alike due to the many loopholes such an agency would create, the agency’s actions will dictate the overall health of the industry with recommendations to state legislators on the current health/status of the industry from their standpoint. State governments have been opposing this and want to maintain self-regulation of the industry within state walls which allows a more localized analyses of the industry.

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