The National Association of Insurance Commissioners said an outside law firm it hired to look into allegations of conflict of interest by its members has given it a clean bill of health.
Bryan Cave, LLC based in Kansas City, Mo., conducted an internal investigation into the approval process related to the adoption of the Viatical Settlements Model Act by the NAIC, which found that the process used by the group passed muster, the organization said.
While some approved of the findings, at least one consumer representative and an industry representative questioned the objectiveness of the investigation.
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