The National Association of Insurance Commissioners has disbanded a working group on class action litigation, apparently satisfied that such suits against the insurance industry do not pose a serious threat to the regulatory process.
The action came during the group's winter meeting earlier this month, when it disbanded the Class Action Litigation Working Group.
Steve Parton, a representative from the Florida Office of Insurance Regulation, said the lack of compelling evidence from a Rand study currently underway on the subject indicated the group's work was complete.
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