NCOIL Readopts Modernization Act

NU Online News Service, Nov. 26, 3:25 p.m. EST?States' insurance lawmakers, at their recently held annual meeting of the National Conference of Insurance Legislators, readopted an NCOIL Property-Casualty Insurance Modernization Act.

The model act, NCOIL stated, is part of a financial modernization package to streamline the way states regulate insurance. The readopting of this model act, the group said, represents a "strong action to encourage modernization of state rate regulation."

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