WASHINGTON–A controversial program to monitor insurers' market conduct was affirmed by the National Association of Insurance Commissioners during its fall meeting here.
The MCAS (market conduct annual statement) was one of a number of items that state insurance commissioners made official NAIC policy. Others included a model regulating the use of titles that life insurance agents employ to describe themselves.
Also adopted were a medical professional liability closed claims reporting model, a reserving guideline for variable annuities and a model regulation to implement Medicare supplement standards.
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