SAN FRANCISCO–The nation's insurance regulators who revised their process to ensure model laws they promote have more success in state legislatures have discovered that their effort needs some fine tuning.
At their plenary session here on Monday, commissioners found they were in disagreement on just what it meant when a commissioner cast a vote to approve a model law.
In the past, passage of an NAIC model took a simple majority. But when the organization found that models they approved were frequently going nowhere in the nation's legislatures they raised the requirement for approval to two-thirds of NAIC membership. The members hoped the move would spell more success in state legislatures if there was more backing from the start.
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