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Changing the rules: A bill to put insurance companies under federal regulation was introduced Thursday by Sen. Howard Metzenbaum, an Ohio Democrat. “Consumer confidence in the insurance industry is shattered,” Metzenbaum said. “Consumers are beginning to question whether their insurance company will make good on its promise of financial protection. They question whether state insurance regulators have the will or ability to protect them.” Insurance companies now are regulated by states, rather than the federal government.
