Federal insurance body could preempt state laws under NAIC plan

12/7/2009 | PropertyCasualty360

The National Association of Insurance Commissioners' proposal to create a National Insurance Supervisory Commission has been receiving criticisms, especially from state lawmakers who say the agency would take away their legislative authority. Insurers, meanwhile, expressed concern over several provisions of the proposal. PCI's Deirdre Manna said the NISC should not be allowed to impose national standards that have not been accepted at the state level.

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