The major argument in favor of an optional federal charter for insurers is that

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The major argument in favor of an optional federal charter for insurers is that national insurers are at a competitive disadvantage under the present system. A federal charter would provide national insurers the ability to operate with greater consistency and efficiency across state lines, without having to adhere to different state regulations. This would give them a competitive advantage over state-based insurers.

The Major Argument in Favor of an Optional Federal Charter