Government Hearings - 2004

  • 2004 0331 - GOV (House) - Working with State Regulators to Increase Insurance Choices for Consumers
    • (PDF-205p, Video-Can't Find] - <mp3, mp4> - R 
    •  J. Robert Hunter, Director of Insurance, Consumer Federation of America
      • One would be, for example, term life insurance, I think you could totally deregulate.
        • And people understand term life insurance and so on.
      • You get into some of the cash value products, people are very confused.
        • They need help. They need information. It is a very difficult product.
    • House - Committee on Financial Serices - Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises 
  • 2004 0922 - GOV (Senate-Banking) - Examination and Oversight of the Condition and Regulation of the Insurance Industry
    • [PDF-104p, VIDEO - Error] - <mp3, mp4> - R 
    • Chairman Richard Shelby
      • With insurance playing such a meaningful role for consumers and the economy, I think it is our responsibility to consider some basic questions about the industry. For instance: Is it financially sound and able to meet its responsibilities, that is, the industry? What is the nature of the prevailing business and operational conditions? Finally, what challenges will the industry face as it moves into the future?
      • As I noted previously, insurance is a very important industry. Because of its importance to the economy, it has long been subject to an intricate regulatory scheme. I look forward to beginning a thorough review of it with our witnesses this afternoon.
      • As an aside, I want to mention that Senator Sarbanes and I are sending a letter to the General Accountability Office requesting an... examination of the troubling reports that military personnel were sold insurance and mutual funds that appear to have excessive premiums coupled with minimal benefits.
    • J. Robert Hunter - 31p
    • Error - banking.senate.gov/hearings/examination-and-oversight-of-the-condition-and-regulation-of-the-insurance-industry
    • Senate - Committee on Banking, Housing and Urban Affairs
  • 2004 1116 - GOV (Senate) - Oversight Hearing on Insurance Brokerage Practices, including Potential Conflicts of Interest and the Adequacy of the Current Regulatory Framework, CSPAN (Insurance Brokerage and Regulation Practices)
    • [PDF - 166p, VIDEO-CSPAN] - <mp3, mp4>
    • Spitzer Investigations
    • Richard Blumenthal (as Attorney General - [D] -Connecticut, Currently (2021) Congressman from Connecticut] 
    • John Garamendi - as Insurance Commissioner
      California
    • Gregory Serio - Superintendent of Insurance, State of New York, on behalf of the National Association of Insurance Commissioners
    • Eliot Spitzer - Attorney General - New York (State)
    • J. Robert Hunter, Director of Insurance, Consumer Federation of America
      • Complexity produces weak regulation, Unleash the FTC, Anti-trust, Cartel rating organizations, Spitzer report - Regulators have utterly failed, 
    • Senate - Committee on Governmental Affairs - Subcommittee Financial Management, The Budget, And International Security