NAMIC President and CEO Charles M. Chamness testified July 24 before the House Financial Services Subcommittee on Insurance, Housing and Community Opportunity on the impact the Wall Street Reform and Consumer Protection Act. Chamness gave the industry’s perspective on how the actual and potential effects on the insurance market in the United States. He explained the role of mutual insurers and the property/casualty industry as a pillar of the economy, allowing others to take the risk s of owning property or starting a business that is critical to the nation’s economic vitality. The nation’s more than 2,500 property/casualty insurers employ nearly 600,000 people and provide billions in tax revenue and investment. He testified on threats to the industry from the growth of new agencies created by Dodd-Frank, as well as the impact that future regula tory uncertainty is already having on insurers across the country.
Posted: Wednesday, July 25, 2012 11:59:44 AM. Modified: Wednesday, October 03, 2012 3:13:17 PM.
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