BestWeek: Impact of Gramm-Leach-Bliley Still Debated 10 Years Later.

OLDWICK, N.J. -- Culprit or savior, the Gramm-Leach-Bliley Act is getting a lot of fresh debate for a law that was enacted 10 years ago, according to the latest issue of BestWeek U.S./Canada. Some blame that particular act -- the legislation that opened up the financial-services industry to cross-ownership of banks, securities and insurance businesses -- for the economic crisis the United States is trying to pull out of. Some credit it with helping form the kind of strong, diversified companies that have been healthy enough to absorb their wayward cousins, BestWeek said.

In BestWeek Europe, the occurrence of a large insurance claim is normally followed by the arrival of a loss adjuster, who will sift through the damage and begin to work out the numbers. Loss adjusters have traditionally represented insurers. But they are now increasingly found on the other side of the fence, speaking for clients who may feel overwhelmed by the complexity of the claims process.

Also, in BestWeek U.S./Canada, at the same time that health insurance groups received a backlash of heavy criticism from Democratic lawmakers for releasing reports that health reform efforts could lead to much higher premiums, another legislative effort saw a jolt of interest in Congress. Momentum has been building for Senate and House bills that aim to tear down the antitrust exemption enjoyed by the health and medical liability industries.

BestWeek is published by A.M. Best Co. for insurance professionals. To subscribe, visit www.ambest.com/sales/BestWeek.

Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers. For more information, visit www.ambest.com.