ASA opposes defunding of federal insurance study
Jan. 31, 2011 — The Automotive Service Association (ASA) is urging repairers to oppose efforts to defund a federal study on the improvement and modernization of U.S. insurance regulation.
The Federal Office of Insurance (FOI), created last July through the Dodd-Frank Wall Street Reform and Consumer Protection Act, was charged with conducting the study and reporting its findings and recommendations to the U.S. Congress. At least one industry organization, the National Association of Professional Insurance Agents (PIA), has proposed cutting funding for the study, citing bias as its motivation.
“Federal bureaucrats should not be conducting a study on whether or not their own powers should be expanded, and then making recommendations to Congress based on a study that they alone conducted,” said PIA National Executive Vice President and CEO Leonard C. Brevik in a press release_notes earlier this year.
ASA, which supported the creation of the FIO, issued a legislative alert opposing PIA’s efforts shortly afterward. ASA said in a prepared letter that the FIO “has the potential to be extremely beneficial to consumers and independent auto repairers.”
For the full alert, visit ASA’s legislative website, takingthehill.com.