When U.S insurance regulators began in December to look earnestly at folding sections of the Sarbanes-Oxley Act into insurance regulation, some leaders at the National Association of Insurance Commissioners said parts of the act were on target with the organization's goal of building a strong foundation for financial reporting, rather than "building a house on the cheap."
But in the eyes of many in the industry, this house would cost too much and isn't very attractive.
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