A financial roundtable held recently thinks so.  The roundtable issued a report that backs federal regulation, in most part because it would bring uniformity to the regulations.  Under the current state by state system, insurance companies have non-uniform, overlapping and often conflicting rules, regulations and coverage differences to contend with.

The roundtable is comprised of 100 of the largest integrated financial services companies and has generally supported larger federal oversight.  The report was released in advance of a Federal Insurance Office report on the state of insurance regulation in the United States, which is due in January.

The regulatory uniformity that exists nationally is generally the result of the efforts of the National Association of Insurance commissioners (NAIC), but they lack any real power to enforce or to compel insurance companies to act.

Mark the end of January 2012 on your calendar, as this due date for the release of the of the Federal Insurance Office report on insurance oversight.