Insurers Urge State Regulators to Focus on Streamlining Regulation
The American Insurance Association (AIA) wants state regulators to emphasize regulatory “effectiveness and efficiency” at the National Association of Insurance Commissioners’ (NAIC) fall meeting in Orlando, Florida this week.
The insurer organization said national and international regulatory developments “compel the need for greater regulatory streamlining,” citing commercial lines rate and form modernization as an example of what it believes needs to be addressed.
David F. Snyder, AIA vice president and associate general counsel, said that the current regulatory system burdens the commercial insurance process with repetitive filing requirements and differing state-to-state standards.
“Enhancing regulatory effectiveness and efficiency across the property/casualty commercial and personal lines markets would ultimately benefit consumers, employers, regulators and insurers alike,” the group said.
The NAIC’s Fall 2010 National Meeting runs from October 18 – 21 in Orlando, Florida.
Source: American Insurance Association
- Tech and Finance Sectors Losing 28,000 Jobs Monthly Show AI Impact on Labor
- Cedents Find Competitive Market Conditions at Midyear Reinsurance Renewals: Brokers
- Bayer Fuels Break-Up Talk as Roundup Business Put Into Separate Unit
- Former Auto-Owners Claims Manager in NC Charged With Fraud in His Own Claim