NEW YORK–Lawyers at an insurance seminar for attorneys here had a simple question for state insurance regulators: “Is state regulation working?” They answered that it was and questioned the need for any federal involvement.
Joel Ario, Pennsylvania's acting insurance commissioner, led off the regulators panel during the 18th Annual Current Issues in Insurance Regulation seminar sponsored by the New York City Bar Association.
Mr. Ario started his comments by noting that in health insurance, there are already many state-federal partnerships. The health insurance industry is a “broken marketplace” where the lack of affordable health insurance has created a crisis that can be remedied if states are used as laboratories for change, he said.
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