Consumer representatives have written the National Association of Insurance Commissioners and U.S. Justice Department suggesting the closeness of some commissioners with insurers may conflict with their regulatory activity.
The letter cited the actions of North Dakota Commissioner Jim Poolman and Julie McPeak, Kentucky executive director of the office of insurance, in the shaping of legislation regulating insurers. Mr. Poolman, a Republican, resigned and left his elective post Sept. 1.
In particular, the letter, signed on Sept. 24, questioned the process surrounding the recently adopted revisions to the Viatical Settlements model act that include company disclosure and marketing issues, and raised concerns about Mr. Poolman's hope to find a job in the insurance industry.
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