US State regulation hinders e-business

The financial services industry in the United States is waiting for Congress to establish uniform laws regarding the conduct of business via the internet. But even with uniform laws at the federal level, the insurance industry might find itself at a competitive disadvantage because of its unique system of state regulation. The point was driven home in April when the American Insurance Association (AIA) filed comments with the US Commerce Department listing those state insurance laws that “create barriers for insurance companies” seeking to compete fully in e-commerce activities.