The American Insurance Association (AIA) wants state regulators to emphasize regulatory “effectiveness and efficiency” at the National Association of Insurance Commissioners’ (NAIC) fall meeting in Orlando, Florida this week.
The insurer organization said national and international regulatory developments “compel the need for greater regulatory streamlining,” citing commercial lines rate and form modernization as an example of what it believes needs to be addressed.
David F. Snyder, AIA vice president and associate general counsel, said that the current regulatory system burdens the commercial insurance process with repetitive filing requirements and differing state-to-state standards.
“Enhancing regulatory effectiveness and efficiency across the property/casualty commercial and personal lines markets would ultimately benefit consumers, employers, regulators and insurers alike,” the group said.
The NAIC’s Fall 2010 National Meeting runs from October 18 – 21 in Orlando, Florida.
Source: American Insurance Association
Topics Carriers Legislation
Was this article valuable?
Here are more articles you may enjoy.
US P/C Rebounds to Post Q1 Underwriting Gain; Net Income Doubles 
Need Wind Mitigation? New Florida Insurer Wants to Help With That 
‘We’ll Want Some Proof’: State Farm CEO’s Take on NY Auto Insurance Reforms 
Space Startups Seek Insurance for Orbital AI Data Centers 
