CBOT Seeks Approval for Insurance Futures: The...

CBOT Seeks Approval for Insurance Futures: The Chicago Board of Trade says it will seek regulatory approval to trade insurance futures contracts aimed at letting insurers hedge their costs. Supporters say the proposed contracts could help lower consumer costs for health care, health insurance and car insurance, but insurance industry officials reacted cautiously to the exchange’s announcement. The proposed contracts--one for health insurance and one for auto insurance--would require approval by the Commodity Futures Trading Commission.