NU Online News Service, Aug. 27, 3:52 p.m. EDT

The National Association of Insurance Commissioners has discussed a proposal that would establish a commission, put together by the states and authorized by federal law, to facilitate regulatory uniformity, with the threat of federal pre-emption if states do not enact the uniform standards.

According to a proposal obtained by NU Online, the National Insurance Supervisory Commission (NISC) would be formed. Its corporate governance and bylaws would be premised on those established in the Interstate Insurance Product Regulation Commission (IIPRC).

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