MARTIN GRACE TESTIFIES BEFORE HOUSE FINANCIAL SERVICES COMMITTEE

Martin F. Grace, James S. Kemper Professor of Risk Management and Insurance, Georgia State University, testified before the U.S. House of Representatives Financial Services Committee (Subcommittee on Capital Markets, Insurance, and Government) on the topic of insurance regulation and whether it should occur at the state or federal level.  Currently, insurance continues to be regulated by the states despite several challenges to their authority over the years. 

The hearing, entitled “How Should the Federal Government Oversee Insurance?” was led by subcommittee chairman Paul E. Kanjorski (D-PA), whose panel regularly debates insurance matters and attempts to find consensus reforms to modernize U.S. insurance laws.  Representative Scott Garrett (R-NJ), another member of the subcommittee, was present and also made a statement.

Other business leaders and academics who testified included Baird Webel, Specialist in Financial Economics, Congressional Research Service; Patricia Guinn, Managing Director, Global Risk and Financial Services Business, Towers Perrin; J. Robert Hunter, Director of Insurance, Consumer Federation of America; and Scott Harrington, Alan B. Miller Professor, Wharton School, University of Pennsylvania.

>> DOWNLOAD TRANSCRIPTS/STATEMENTS