Insurers Caught Tug Of War Over Data

Continuing our discussion about regulation, the National Association of Insurance Commissioners stepped on a hornet’s nest this week with its proposal to collect market conduct data as part of the annual statement process–then keep it in a central data base. Consumer groups are all for it, but insurers fear more class-action suits and tipping off competitors to proprietary information. No matter what happens, this is one battle the industry can’t win. All they can do is limit the fallout.