Neither banks nor insurance agents are likely to gain an all-out victory in Barnett Banks' suit against the Florida insurance commissioner, said Ann M. Kappler, chief counsel to the Alliance for Separation of Banking and Insurance.
Speaking Monday at the Professional Insurance Agents' federal legislative conference near here, Ms. Kappler said that if the Supreme Court sides with banks, they will probably be able to sell insurance in all states but still be subject to state regulation. If the insurance industry wins, Florida probably will be able to ban all bank insurance sales, but prohibitions in other states could remain in question.
Ms. Kappler said she believes the court has already decided the case. That's no guarantee the ruling will be announced soon, though. "We'll know maybe tomorrow, maybe in June," she said.