Additional Perspectives on the Need for Insurance Regulatory Reform

Tuesday, October 30, 2007, 2:00 p.m., 2128 Rayburn House Office Building
Capital Markets

 Financial Services Subcommittee Continues to Explore the Need for Insurance Regulatory Reform

Washington, DC—Congressman Paul E. Kanjorski (D-PA), Chairman of the Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises, today announced that the Subcommittee will hold its second in a series of hearings on insurance regulatory reform on Tuesday, October 30, 2007 at 2:00 p.m.  This hearing will continue to review the need to improve insurance regulation. 

“Our initial hearing reiterated my belief that insurance regulation remains a complex issue in need of reform.  I look forward to hearing from more of the key participants involved in insurance transactions during our second hearing,” said Chairman Kanjorski.  “Taking into consideration the views of all parties involved in and affected by insurance constitutes an important step before taking any action.  These hearings will help the Subcommittee to devise the most beneficial and practical policy decisions for consumers of insurance products.”

“This Subcommittee remains committed to dedicating our full energies to move the U.S. insurance market forward.  We cannot allow our regulatory structure to continue to disadvantage consumers and hinder innovation,” stated Congresswoman Pryce (R-OH), Ranking Member of the Subcommittee.