IT WAS GRATIFYING TO SEE THAT A regulatory panel convened for the summer meeting of the National Association of Insurance Commissioners took the definite step of going on record against the expansion of state insurable interest laws. Now it is up to the full NAIC to put the seal on this resolution.
The unfortunate expansion of insurable interest laws has picked up speed in various jurisdictions around the country and it can only be hoped that if state insurance commissioners come out against it that legislators in their states will pay heed.
Among states that have expanded such laws are Texas, North Carolina and Tennessee.
The case of Texas, which has seen the ...