State supervision in question

Post-Spitzer Senate hearing resurrects state vs federal regulation debate

Eliot Spitzer, the attorney-general of New York, has followed up his allegations against the insurance broking market with a call for fundamental reform at federal level. Speaking at a hastily arranged Senate hearing to address the issues thrown up by his investigation, Mr Spitzer said the industry "operates in secrecy" and criticised the failure of state regulation to bring about change.