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.