NAIC To Study Homeowners Market
NU Online News Service, March 11, 9:10 a.m. EST, Atlanta?The National Association of Insurance Commissioners' Market Conditions Working Group appointed a homeowners subgroup to study the current condition of the homeowners market.
The subgroup, chaired by Michael Hessler, deputy director of consumer market division for the Illinois Insurance Department, was also asked to advise the working group on whether a separate panel should be assigned to study the multiple-family dwelling insurance issue that has been a concern of several consumer groups.
The announcement was made Sunday, March 9, at the Kansas City, Mo.-based association's spring meeting in Atlanta
Separately, the producer licensing working group adopted the "Second Supplemental Report on Certification of States for Producer Licensing Reciprocity." With the adoption of the report, Pennsylvania will become the 39th state to be certified as a reciprocal jurisdiction, according to NAIC.
NAIC also stated its staff will conduct a survey of the states to determine state implementation and compliance with the uniformity standards the association adopted last year. A full compliance report will become available at or before the NAIC's summer national meeting.
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