In effort to have the federal government regulate insurance for the first time is bogged down in intra-industry squabbling. House Energy & Commerce Committee Chairman John D. Dingell (D-Mich.) won little support for a proposal to have the government supervise the solvency of insurers while allowing states to continue regulating rates. Now, insurance executives fear that a new proposal from Dingell providing for federal regulation of big underwriters and state scrutiny of the rest would balkanize the industry.
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