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Committee on Financial Services

United States House of Representatives

Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises

Hearing entitled Insurance Product Approval: The Need for Modernization

Thursday, June 21, 2001

Opening Statement of Full Committee Chairman Michael G. Oxley Opening Statement of Subcommittee Chairman Richard H. Baker Opening Statement of Ranking Member Paul E. Kanjorski Photo -- Prior to the House Financial Services Subcommittee hearing on insurance, Chairman Michael G. Oxley took a minute to chat with Ohio Insurance Commissioner Lee Covington. Covington testified at the hearing on behalf of the National Association of Insurance Commissioners. In his testimony before the panel he detailed Ohio's efforts to achieve regulatory uniformity with the other 49 states.

Transcripts: Hearing Transcript Printed Hearing: 107-28

Prepared Testimony: The Honorable Frank Fitzgerald, Commissioner, Michigan Insurance Bureau, Office of Financial and Insurance Services, and The Honorable Lee Covington, Director, Ohio Department of Insurance, on behalf of the National Association of Insurance Commissioners
The Honorable Terry Parke, Illinois State Representative, President, National Conference of Insurance Legislators, on behalf of the National Conference of Insurance Legislators
Mr. William B. Fisher, Vice President and Associate General Counsel, Massachusetts Mutual Life Insurance Company, on behalf of the American Council of Life Insurers
Mr. Robert C. Gowdy, President, OneBeacon Insurance Group, Chairman, American Insurance Association, on behalf of the American Insurance Association
Mr. Robert L. Zeman, Vice President and Assistant General Counsel, National Association of Independent Insurers, on behalf of the National Association of Independent Insurers and the Alliance of American Insurers accompanied by Ms. Rita Nowak, Assistant Vice President, Alliance of American Insurers
Mr. James A. Blum, CPCU, Chairman and President, Brotherhood Mutual Insurance Company, Chairman, National Association of Mutual Insurance Companies, on behalf of the National Association of Mutual Insurance Companies
Mr. J. Robert Hunter, Director of Insurance, Consumer Federation of America
Mr. Philip R. O'Connor, President, PROactive Strategies, Inc., former Director of Insurance, Illinois Department of Insurance
The Council of Insurance Agents + Brokers [Submitted for the Record]


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