AIA Urges Regulators Not To Fight OFC

The American Insurance Association has asked the National Association of Insurance Commissioners’ president to urge fellow regulators to reconsider opposition to federal legislation to establish an optional federal charter system for insurers.

Marc Racicot, the president of the AIA, made the request in a letter to Sandy Praeger, Kansas insurance commissioner and current NAIC president, in response to an editorial titled “Federal Bill Unnecessary” that Ms. Praeger placed on the Web site of the Kansas Insurance Department.