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Federal insurance oversight standards beats U.S. regulator, IIABA CEO insists. (Independent Insurance Agents and Brokers of America CEO Robert Rusbuldt).(Agent/Broker)

National Underwriter Property & Casualty-Risk & Benefits Management, January, 2004 by Brostoff, Steven

Content provided in partnership with HighBeam Research

Washington Federal standards for state insurance regulation is the most practical and politically doable way to achieve the uniformity and efficiency that the whole industry needs and wants, a top independent agency association executive contends. Robert Rusbuldt, chief executive officer of the Independent Insurance Agents and Brokers of America in Alexandria, Va., said that while he understands the desire of some insurance companies for optional federal regulation, or dual chartering, he does not believe Congress will be willing to create a new federal bureaucracy anytime in the foreseeable future.

Moreover, Mr. Rusbuldt--who, before he became IIABA's CEO, was an influential Washington lobbyist for the association--told National Underwriter that the...

 

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