The National Conference of Insurance Legislators said it will conduct an in-depth study of state regulation of insurance in an effort to determine where it works well and where it could be improved.
According to officials, among items for study would be a possible state framework to handle federally chartered insurers if Congress were to approve an optional federal charter system.
NCOIL president, Michigan State Sen. Alan Sanborn, R-Richmond, said the Insurance Legislators Foundation study is the first of its kind and will aim to create a more effective and efficient structure to better serve both the industry and consumers.
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