Task Force Assigned to Lead National Licensing Program.The full membership 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. has authorized the creation of a task force to execute a limited launch of a national treatment program for licensing insurers. It will use the existing national treatment proposal as a starting point Noun 1. starting point - earliest limiting pointterminus a quo commencement, get-go, offset, outset, showtime, starting time, beginning, start, kickoff, first - the time at which something is supposed to begin; "they got an early start"; "she knew from the . The limited launch will be conducted from June 2001 to November 2002. The new task force would then make recommendations to the working group for expanding the program to all states and other insurance jurisdictions. Initial members of the task force will come from California, Illinois, Maine, Nebraska, North Carolina North Carolina, state in the SE United States. It is bordered by the Atlantic Ocean (E), South Carolina and Georgia (S), Tennessee (W), and Virginia (N). Facts and Figures Area, 52,586 sq mi (136,198 sq km). Pop. , Pennsylvania, Texas, Virginia and Wisconsin. Those states are within all four NAIC-designated zones of the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . The program will make use of the NAIC's ALERT (Accelerated Licensure Evaluation and Review Techniques) Project, to which 46 states and the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). are currently committed, said Betsy Costle, co-chair of the working group and commissioner of Vermont. The working group wants to achieve active participation in the ALERT project by all NAIC NAIC See National Association of Investors Corporation (NAIC). members by June, she said. The working group also is developing state legislation to provide insurance regulators and the NAIC the necessary legal authority to enact a national treatment system by June 2003. The Alliance of American Insurers, Downers Grove, Ill., has opposed the national treatment initiative because it would represent erosion of state regulation. The Alliance maintains that all licensing problems can be fixed within the current state system. |
|
||||||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion