State legislators and regulators–often at odds over just who is in charge of insurance lawmaking and how model laws are crafted–have been burying the hatchet and showing a new spirit of amity lately, driven by the possibility the federal government could soon move onto their turf.
The two sides of the same coin in state insurance oversight have not always seen eye to eye over the past year, with disputes between the National Association of Insurance Commissioners and the National Conference of Insurance Legislators arising over access to NAIC meetings, transparency in NAIC decision-making and disposition of funds flowing to the NAIC's coffers.
However, attendees here at last week's quarterly NCOIL meeting and the tempo of discussions at sessions suggest that the threat of an optional federal charter for insurers is a factor encouraging a turnaround in relations between state representatives and local insurance commissioners.
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