Progress on wider powers is win for insurers, too.(extension of bank insurance marketing powers)

Trade associations representing insurance agents are planning to file a lawsuit against the Office of the Comptroller of the Currency over the OCC's expansion of bank insurance marketing powers, which is ironic as the life insurance industry may be the biggest beneficiary of the OCC's action. So far, life insurers have not given any support to the agents' plan, which is good as insurers will benefit from the liberalization of the financial markets. Financial market liberalization will free insurers, in the future, to sell a broader line of financial products.