Rather than be dismissed as part of the problem, the National Association of Insurance Commissioners appears poised to be part of the solution when it comes to regulatory reform, if what we hear from the grapevine is correct. However, did the group make a mistake leaving out a key constituency–consumers–in its recent pow-wow with industry leaders?
The NAIC had a major meeting in D.C. last week to hear from industry associations where they stand on regulatory reform at a time when calls for federal involvement seem to be getting louder and more widespread–most recently from the Bush White House, in the Treasury Department's blueprint for financial services oversight.
As reported exclusively by NU's Dave Postal (click here for the full story), regulators were read the riot act even by some of its staunchest supporters over the years, who are losing patience with the glacial pace of reform.
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