Congress Messes With Insurance

Eli Lehrer has an editorial in today’s Washington Examiner about how ill-considered legislation to create federal “national catastrophe insurance” could lead to American taxpayers shelling out more than $100 billion, on par with Hurricane Katrina.  Earlier, he described how the legislation could cause serious financial problems for the country as a whole.

Last month, Congress created a long-run threat to the insurance industry by passing the Genetic Information Non-Discrimination Act (GINA).  GINA also regulates employers in ways that I criticized in 2005 in the National Law Journal.