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Article: Interstate compact vote due soon, but major questions persist. (Regulation).(Brief Article)
- Article from:
- National Underwriter Life & Health-Financial Services Edition
- Article date:
- September 16, 2002
- Author:
CopyrightCOPYRIGHT 2002 Summit Business Media. 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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Just two weeks before regulators vote on what they say is the answer to a need for a single point of product filing, insurers and consumer representatives say they still have questions about the interstate compact project.
During the fall meeting of the National Association of Insurance Commissioners here, major points--including the right of a state to opt out of compact product standards, the quality of standards chosen for long term care products and the role of consumer advocates--were raised. This was despite Michigan Insurance Commissioner Frank Fitzgerald's assertion that the project is coming down to "the end game" with fairly few changes likely. ...