Orlando, Fla.–State regulators after years of inaction on the issue could shortly approve a measure to deregulate rate setting for personal insurance lines, an Alabama regulator said.
Deputy Alabama Commissioner David Parson, who chairs the Personal Lines Market Regulatory Framework Working Group, said such a measure could gain approval within the next few months.
Speaking yesterday at the group's session during the spring meeting of the National Association of Insurance Commissioners, Mr. Parsons said such a relatively speedy outcome could be possible if the panel used the model developed by regulators in 2000 but then abandoned.
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