The National Association of Insurance Commissioners came under fire from a leading consumer advocate for not asking consumer representatives to participate in a meeting to discuss the future role of states in insurance regulation.
“We are struck by the absence of any consumer organizations in the list of participants” at a roundtable held to discuss how state insurance regulation can be improved, Birny Birnbaum, executive director for the Center for Economic Justice in Austin, Texas, said in a letter to NAIC President Sandy Praeger.
“Given that the NAIC's mantra is that state insurance regulation is all about protecting consumers, we ask if you could explain why no consumer representatives were invited to the meeting and how the NAIC could reasonably get feedback about the prospects of an [optional federal charter] or the future of insurance regulation without the views of the consumers who would be affected by such legislation,” he added.
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