A property-casualty trade association has called the National Association of Insurance Commissioners president's praise for a proposed new solvency rule for the European insurance market as fuel for the optional federal charter bill now in Congress.
David Snyder, assistant vice president for the American Insurance Association, said European companies are realizing the value of a single insurance market for their continent, as does NAIC president Al Iuppa, apparently.
In a speech to the European Commission last week, the Maine insurance commissioner praised the Solvency II standard-setting effort, calling it when completed, “the crowned jewel of the European single market for insurance.”
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