Former Washington D.C. insurance commissioner Lawrence H. Mirelsays the National Association of Insurance Commissionersis at a crossroads because it must clarify first what it is, andthen work out a system for collaborating with federal regulators inoverseeing large, multi-faceted insurance companies withinternational operations.

"NAIC said it is not a trade association, butit really is a trade association of state insuranceregulators," Mirel, now a partner in the Washington, of Nelson Levine de Luca & Hamilton, tellsPC360

Mirel says NAIC has no regulatory authorityand claims it is an organization registered with the IRSas a 501(c)(3) charitable organization but, he adds, "I amnot sure it is a charity, and it has said it is not subject to anystate laws or Freedom of Information Act requests because it is nota public body."

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