After insurance industry representatives told the NationalConference of Insurance Legislators annual meeting that statelegislatures have not accepted their model law for market conductsurveillance, NCOIL agreed to reexamine it.
Insurer trade groups reacted happily. "I think this is a goodstep forward," said David Snyder, assistant general counsel of theAmerican Insurance Association. "The current model as such has yetto gain any acceptance in the states and has failed with respect tomeeting market conduct concerns."
Both the National Association of Insurance Commissioners andNCOIL jointly adopted the current model in the summer of 2004 aftertwo years of debate that left neither side happy with the finaloutcome
Continue Reading for Free
Register and gain access to:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
