NAPA, CALIF.–The National Conference of Insurance Legislatorshas approved a revised market conduct model surveillance act thatattempts to eliminate some regulatory discretion when it comes toinsurance company examinations.
NCOIL's action came Friday at the organization's annual meetinghere.
The revision effort stemmed from the state lawmakers'dissatisfaction with the current model, which was crafted with aneye to meeting regulators' concerns and securing joint sponsorshipwith the National Association of Insurance Commissioners.
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