NEW YORK–State legislators from around the country, who met here, roundly criticized state insurance regulators for giving conditional support to Congress' move to create an Office of Insurance Information.
During the Friday discussion between lawmakers and regulators, at the National Conference of Insurance Legislators summer meeting, one legislator concerned about federal intervention in the state-regulated industry said insurance commissioners had “sold out.”
Still, the group also spoke of forging ties that will bond state insurance regulators and lawmakers together as the possibility of federal regulation grows.
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