Contact: Blain Rethmeier
(202) 828-7132
AIA PRESIDENT COMMENTS ON ENACTMENT OF DODD-FRANK FINANCIAL REGULATORY REFORM LEGISLATION WASHINGTON, D.C., July 21, 2010 – Leigh Ann Pusey, president and CEO of the American Insurance Association (AIA), issued the following statement on the enactment of the “Dodd-Frank” financial services regulatory reform legislation signed by President Obama today. Ms. Pusey’s statement follows: “The Dodd-Frank financial reform bill proposes sweeping reforms of the financial markets. As we shift our focus to implementation, it will be our goal to continue to reinforce the distinctions between insurance and other financial services. The new law recognizes this in many important areas, including leaving insurance in the existing state-based resolution mechanism and continuing the state guaranty fund system. It will be important in the months ahead to work with Treasury and other federal regulators to ensure the implementing regulations and related rule-making are consistent with the legislative intent.”
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# # # The American Insurance Association (AIA) is the leading property-casualty insurance trade organization, representing approximately 300 insurers that write more than $117 billion in premiums each year. AIA member companies offer all types of property - casualty insurance, including personal and commercial auto insurance, commercial property and liability coverage for small businesses, workers' compensation, homeowners' insurance, medical malpractice coverage, and product liability insurance. |