Regulation Debate Leans Toward Shared Oversight.NASHVILLE, Tenn. -- Having developed a blueprint for regulatory reform Regulatory Reform concerns improvements to the quality of government regulation.
At the international level, the "OECD Regulatory Reform Programme is aimed at helping governments improve regulatory quality -- that is, reforming regulations that raise unnecessary obstacles to a year ago, state insurance commissioners continued to forge ahead with the business of creating the model laws and other necessary framework. But as they and the industry enter the implementation phase, signs have surfaced that all parties are not fully committed (Law) committed to prison for trial, in distinction from being detained for examination.
See also: Fully and may be leaning toward dual regulation.
At the National Association of Insurance Commissioners' Spring Meeting, Paul Mattera of Liberty Mutual Group, Boston, sounded a warning. Mattera, chief public affairs Those public information, command information, and community relations activities directed toward both the external and internal publics with interest in the Department of Defense. Also called PA. See also command information; community relations; public information. officer at Liberty Mutual and a liaison member representing the Alliance of American insurers, told the NAIC/Industry Liaison Committee The Liaison Committee is a topical committee of the British House of Commons, the lower house of the United Kingdom Parliament. It includes the Chairmen of the 30 Select Committees. meeting that the work of the NAIC NAIC
See National Association of Investors Corporation (NAIC). is very encouraging, but that a "significant segment" of the industry had doubts that the NAIC can make the reform changes. He said these industry members have concerns that the reforms are "too little and too late," and they lack confidence the reforms can be achieved in a timely fashion and that they are "voting with their feet."
According to according to
1. As stated or indicated by; on the authority of: according to historians.
2. In keeping with: according to instructions.
3. some sources, many of the largest property/casualty insurance companies are not counting on the successful implementation of NAIC reforms and are willing to accept some form of federal regulatory oversight. And at least two trade associations--the American Insurance Association and the American Council American Council may refer to:
Trade associations and companies worry that some regulators are less than enthusiastic or supportive. "Regulators have the authority right now to streamline regulation," said Robert Zeman, a spokesman for the National Association of Independent Insurers. "Not all of the initiatives have to be passed by state legislatures. So why don't they do it?" Every insurance department, for example, can eliminate so-called "desk-drawer rules," he pointed out. They are operational guidelines departments create, but are not backed by state law.
Many of the parties, including Mattera, said a few victories in state legislatures would go a long way toward quelling unrest. "What we need now are not the model regulations, but real regulations," he said. "From this day forward, we have to get some wins."
Commissioners at the liaison meeting were obviously defensive about what Mattera had to say. "While we appreciate your comments, I can't help but get a sense of frustration," said NAIC President Kathleen Sebelius Kathleen Gilligan Sebelius (born May 15 1948) is currently serving as the forty-fourth Governor of Kansas. She is the second female governor of the state of Kansas, and is currently chairwoman of the Democratic Governors Association. . "How could we have worked more collaboratively? In the past 12 months, we've done an enormous amount of work, and we've accomplished a great deal."
Ohio Commissioner Lee Covington pointed out that his subcommittee on state-based speed-to-market reforms has set and met all deadlines, except for those that need state legislation. "I hope the trades will join us in our efforts as we talk to states," he said.
Iowa Commissioner Tern Vaughan, who is NAIC vice president, pointed out that speedier producer-licensing efforts already have won the support of more than 40 states.
Maryland Commissioner Steve Larsen Steve Larsen (born January 26, 1975 in Langley, British Columbia) is a bobsleigher for the Canadian Olympic Team, and participated in the the 2006 Winter Olympics. External links