Anyone hear of this? Found this little tidbit on -
http://www.arnoldwatch.org/
Later this month US Representative Mike Oxley will be presenting a bill in Congress to take away the rights of states to regulate insurers, premiums and practices. The New York Times reports that GOP insurance commissioners are for the plan, which would create a weak federal regulatory scheme to replace California's rigorous Prop 103 rules across the board. This federal system is essentially insurance deregulation because it would nix all state price controls, including Prop 103 and any new workers' comp reforms.
Last time preemption of state consumer protection laws was at issue on Capitol Hill, Arnold was MIA, allowing the state's recently enacted financial privacy law to slip away. Senators Feinstein and Boxer fought to protect California's privacy protections, but the law was gutted by the powerful financial services lobby before ever taking effect. Workers comp reform and federal insurance deregulation will be Arnold's next big test. Will he fight for California business and consumers or will he fight for national and international insurers? And will the Collectinator make sure Californians continue to receive what insurers owe them under Proposition 103?