Insurers lobby for segregation from the international banking system, turn to Obama for aid

The U.S. government is being asked to support a new measure before the U.N. that would separate banks and insurance companies from the Financial Stability Board’s efforts to overhaul the international banking system. Several insurance company trade groups have been partitioning President Obama to join other G20 leaders in these efforts, hoping that the added support will affect the measure toward their goals. Insurers are concerned with this issue because one set of regulations is being used to govern both banking institutions and insurance companies. Given the recent failings of…

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