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NAIC and ex-regulators clash over SMART Act.(REGULATORY BATTLES)(National Association of Insurance Commissioners)(State Modernization and Regulatory Transparency Act)
- Article from:
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National Underwriter Life & Health
- Article date:
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June 20, 2005
- Author:
- Postal, Arthur D.; Brady, Matt
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Copyright informationCOPYRIGHT 2005 The National Underwriter Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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AT A HEARING LAST WEEK, the National Association of Insurance Commissioners continued its policy of steadfast opposition to federal legislation imposing "standards" on state regulators, but five former regulators took a more measured approach, with several warning that some mechanism for establishing uniformity in state insurance regulation is imperative.
Several of the regulators also took issue with the NAIC's doomsday analysis that the proposed legislation--the draft State Modernization and Regulatory Transparency Act--incorporates "unacceptable levels of federal preemption that would create both legal and practical problems for the insurance industry and its ...
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Okla. State Insurance Fund board votes to change name
THE JOURNAL RECORD;
May 9, 2001 ;
Ray Carter;
277 words
......establish a distinct identity, the State Insurance Fund board of directors is seeking...Terry McCullar, commissioner of the State Insurance Fund, said the request was prompted...some confusion with regard to the State Insurance Fund, people getting it confused with...
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State Insurance layoffs shock staff
The Nelson Mail;
August 20, 1998 ;
282 words
...Staff at State Insurance's Nelson office were stunned to...proposed restructuring. He understood State Insurance's Motueka office, employing two...throughout the South Island as State Insurance centralised its claims processing...
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Midterm elections spell major change in ranks of state insurance...
Business Insurance;
November 13, 2006 ;
Fletcher, Meg;
381 words
......Congress has significant implications for state insurance regulators, says the Washington state insurance commissioner and onetime congressman...newcomers and three incumbents to the state insurance regulator ranks. Among issues state...
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State Insurance Fund Overhaul Sought
The Journal Record;
January 9, 1993 ;
Lou Anne Wolfe;
348 words
......Reporter A bill to overhaul the Oklahoma State Insurance Fund, the state's largest carrier...Feb. 1. Under House Bill 1141, the State Insurance Fund commissioner would continue to...supervised instead by the Oklahoma state insurance commissioner. The nine-member board...
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State Insurance Regulators Get No Respect From Feds.
National Underwriter Life & Health-Financial Services Edition;
February 22, 1999 ;
787 words
......disrespect, for the institution of state insurance regulation among federal lawmakers...services regulation. Unless the status of state insurance regulators can somehow be upgraded...R. 10, which is equal deference to state insurance commissioners in federal court disputes...
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State Insurance Fund Office Recommendation May Come in September
The Journal Record;
July 17, 1991 ;
Tim Hartley;
304 words
......Reporter A recommendation for the State Insurance Fund to purchase part of the Mid-America...Michael Clingman, commissioner of the State Insurance Fund. "We don't know how much it's...negotiations Thursday." Clingman said State Insurance Fund representatives met Monday with...
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Public employee group opposes privatization of state insurance fund
The Journal Record;
May 20, 1997 ;
Marie Price Special to The Journal Record;
245 words
......being circulated to privatize the State Insurance Fund, the organization announced Monday...legislative leaders. "Privatization of the State Insurance Fund could be detrimental to the state...our great state," said Jones. "The State Insurance Fund has consistently been the insurer...
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NRMA front-runner for State Insurance
The Press;
February 6, 2001 ;
162 words
......has been successful in its bid to buy State Insurance. The board of State Insurance's parent, CGNU, meets overnight (NZ) in...the sale of CGNU's New Zealand asset. State Insurance has a 19 per cent share of New Zealand...
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STATE INSURANCE REGULATORS ARE TOO LAX
The Record (Bergen County, NJ);
February 9, 1994 ;
237 words
......Record (Bergen County, NJ) 02-09-1994 STATE INSURANCE REGULATORS ARE TOO LAX Date: 02-09-19...billion-dollar conglomerates dominate state insurance departments, indirectly with financial...concludes. Is it any wonder that state insurance departments exhibit far more concern...
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Federal preemption and interstate lending
Hoosier Banker;
September 1, 1999 ;
Nowacki, Theodore J;
787 words
......more straightforward than one might think, thanks to a legal concept called "federal preemption." WHAT IS FEDERAL PREEMPTION? The concept of federal preemption comes from the Supremacy Clause of the U.S. Constitution. Simply stated it...
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Car owner's long wait nears end; State Insurance must accept liability...
The Press;
November 13, 1996 ;
GEE, David;
523 words
......the end of his five-year battle with State Insurance over a claim for $3250. Chit Ki Lam...claimed under his insurance policy with State Insurance which declined the claim, saying that...was no causal link between the risk State Insurance was attempting to exclude -- the higher...
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State Insurance Fund May Raise Rates
The Journal Record;
January 5, 1995 ;
Mindy Kepfield;
450 words
...Journal Record Staff Reporter The State Insurance Fund is looking at raising its rates...Workers Compensation." The Oklahoma State Insurance Fund does nearly half of the Workers...income the fund has, Clingman said. The State Insurance Fund's investment income was down...
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Diamond State Insurance Assigned 'Api' Rating by Standard & Poor's.
PR Newswire;
September 30, 1998 ;
246 words
......insurer financial strength rating to Diamond State Insurance Co. Diamond State Insurance is licensed in 43 states. The company's...general liability (occurrence). Diamond State Insurance is a member of United National Group, a...
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Can State Insurance Regulators Handle Health Reform Needs
The Journal Record;
January 20, 1994 ;
Vic Ostrowidzki;
556 words
......congressional study questions the ability of state insurance regulators to take on additional responsibilities...investigators specifically noted that state insurance regulators in New York, Maryland and...24 percent of the annual budgets of state insurance departments to regulating ...
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