Bill seeking P/C insurers' exemption from Volcker rule clears Senate:

05/26/2010 | PropertyCasualty360

The Senate voted in favor of a bill that seeks changes to the financial-services-reform legislation to exclude property/casualty insurers with bank or thrift ownership from proprietary trading restrictions proposed by Paul Volcker, an adviser to President Barack Obama. The decision would prompt senators who will take part in the House-Senate conference on the financial-services reform "to ensure that the Volcker Rule's proprietary trading restrictions do not extend to the normal operations of insurance affiliates of insured depository institutions."

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