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Federal and state regulators grapple over insurance supervision

The battle between the federal government and individual states over whose authority trumps the other has recently spilled over into the realm of insurance regulation, with ground-shaking implications for firms and federal agencies alike.

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Prior to 2010, there wasn’t a single federal agency enshrined in US law with responsibility for the insurance sector. The states administered insurers through their own commissioners, collaborating through the National Association of Insurance Commissioners (NAIC) to develop shared standards and establish best practice.  

All this changed following the global financial crisis. The $182 billion (

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