Federal Insurance Office provision draws flak from NAIC, NCOIL
The National Association of Insurance Commissioners and the National Conference of Insurance Legislators are opposing a provision in the Federal Insurance Office bill that would give the Treasury Department authority to forge international insurance agreements. They said the provision would lead to "a significant shift of authority from the states to the federal government." Speaking in agreement with these concerns, Jimi Grande, NAMIC senior vice president of federal and political affairs, said, "the preemption authorities under the current draft have the potential to create an unlevel playing field."
Hill, The | 10/27
This story published in NAMIC dailyLead on 10/28/2009
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