Insurer State Farm favors U.S. federal proposal


NEW YORK, March 31 (Reuters) - U.S. insurer State Farm said on Monday it supports a proposal to revamp the current system of state-by-state insurance regulation in favor of a choice between federal or state regulation. "The current regulatory structures make serving insurance customers across the country complicated, costly and cumbersome," said State Farm Chief Executive Ed Rust in a statement. "Increasingly, insurance challenges are also national and international in scope," Rust ...

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