There were some intriguing regulatory reform alternativesfloated at two separate industry gatherings this month. At PLUS, one professional liability underwriter suggested that thefederal government should oversee most commercial lines, whileleaving personal lines with the states. Meanwhile, at PCI, one regulator suggested that bigger states get more votingpower at the NAIC when setting national policy.

I am particularly intrigued by the voting power issue raised byWashington State Insurance Commissioner Mike Kreidler, who wiselyobserved that you cant have the Northern Marianas Islands with thesame vote as the 19 million population of New York. It isntreasonable.

He urged the NAIC to reform its structure to become much moreresponsive to large premium states, warning that without such achange, the group might lose power to a federal regulator.

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