Consumer protection must be preeminent in debate over bank-insurance sales.(Editorial)

National Underwriter Property & Casualty-Risk & Benefits Management, June, 1997

As the behemoths of banking and insurance battle it out in Congress to determine the future of financial services reform, the argument should focus on the best interests of consumers. With that in mind, Congress should pay careful attention to the results of a consumer survey taken last month indicating that the public is both confused and concerned about the implications of banks selling insurance.

Of course, the group which commissioned the survey--the Alexandria, Va.-based Independent Insurance Agents of America--has a clear interest in the outcome of this debate and has spent millions of dollars and hours lobbying on Capitol Hill to protect its members' turf. However, much of what the survey found is common sense and has been "revealed" in numerous...

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