BestWeek: NAIC 2006 Models Could Spark Debate in 2007 State Legislative Sessions.OLDWICK, N.J. -- In the regulatory world, January is the starting block start·ing block n. 1. Sports a. An apparatus that braces a runner's feet at the start of a race, consisting of two angled supports adjustably mounted on a rigid frame that is usually anchored to the track. b. for model laws of the National Association of Insurance Commissioners The National Association of Insurance Commissioners (NAIC) is an Internal Revenue Code Section 501(c)(3) non-profit organization which seeks to organize the regulatory and supervisory efforts of the various state insurance commissioners from around the United States. that were passed in the previous year. Some of the 2006 bills proposed are sure to raise debate as they hit state legislatures across the country. Others, having been well vetted during the hearing process, are not slated to be pursued. The Jan. 22 BestWeek takes a look at the progress these models law are expected to make in the coming year. "As far as the most recent model laws that would have been eligible for advocacy last year and going forward, from NAMIC's perspective, we're probably more concerned with playing defense on a couple of them--the larger ones that we think are incomplete or downright troubling," said Neil Alldredge, vice president of state and regulatory affairs Regulatory Affairs (RA), also called Government Affairs, is a profession within regulated industries, such as pharmaceuticals, medical devices, energy, and banking. Regulatory Affairs professionals usually have responsibility for the following general areas: Also in BestWeek, Best's Global Insurance Composite Index Composite Index A grouping of equities, indexes or other factors combined in a standardized way, providing a useful statistical measure of overall market or sector performance over time. Also known simply as a "composite". finished the week of Jan. 18 up 13.74% from a year ago. The composite index reflects the performance of 184 insurance stocks. The week's top performers were Mitsui Sumitomo Insurance; National Atlantic Holdings; China Insurance International Holdings Co.; Atlantic American Corp.; and Bristol West Holdings. The bottom five performers were James River James River or Dakota River River in the U.S. rising in central North Dakota and flowing southeast across South Dakota. It joins the Missouri River about 5 mi (8 km) below Yankton after a course of 710 mi (1,140 km). ; Mercer Insurance; American Physicians Capital; National Interstate; and SCPIE SCPIE Southern California Physicians Insurance Exchange Holdings. BestWeek is published by A.M. Best for insurance professionals. To subscribe, please call A.M. Best's customer service department at (908) 439-2200, ext. 5742, or e-mail your request to customer_service@ambest.com. Founded in 1899, A.M. Best Company is a full-service credit rating organization dedicated to serving the financial services industries, including the banking and insurance sectors. For more information, visit www.ambest.com. |
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