An array of factors has triggered the current financial crisis. However, there is no compelling proof to indicate that P&C insurers did anything to contribute to the mess, says a recent report issued by National Association of Mutual Insurance Companies (NAMIC).

Written by former Illinois Director of Insurance Nat Shapo, the 15-page report analyzes the causes of the nation’s financial crisis and cautions Congress to avoid disturbing the financial markets and regulatory systems that have served consumers well. Specifically, NAMIC cites a tradition of prudent management and state-based solvency regulation that has been advantageous to P&C insurers and their policyholders alike.

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