Insurance industry representatives have urged regulators to delay action on a central market conduct data bank with financial analysis statements, citing concerns about confidentiality and possible conflicts with state laws.
They voiced their concerns ahead of a conference call by regulators scheduled for July 8 to consider the issue. However, the call was cancelled in the wake of the announcement that Catherine Weatherford, the NAIC's executive vice president and CEO, would be resigning.
Work on a market conduct data base has been underway at the National Association of Insurance Commissioners, Kansas City, Mo., over the last year. As part of that work, state insurance commissioners are considering collecting data and storing it in a central place.
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