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Dodd-Frank Act will ‘rewrite landscape’ for (re)insurers

26 July 2010

The far-reaching US Wall Street Reform and Consumer Protection Act signed into law by President Obama last week will "rewrite the landscape of the financial markets", according to the Property Casualty Insurers Association of America (PCI).

The legislation - which passed in the Senate by 59 votes to 39 - allows the creation of the first national industry regulatory body, the Office of National Insurance (ONI), which will sit within the Treasury.

David Sampson, president and CEO of PCI, warned...

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