Insurance industry representatives examining the National Association of Insurance Commissioners’ proposed 2009 budget are questioning a variety of items including the severance package for the NAIC’s former chief executive and outlays for a new rating agency.

Beside the severance package for Cathy Weatherford, the former $370,000-a-year NAIC executive vice president and CEO, who quit abruptly in August, insurers are also looking at the cost of the NAIC developing a national catastrophe model, the recently adopted market conduct analysis program and the cost of setting up the NAIC’s executive team in Washington.

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