After insurance industry representatives told the National Conference of Insurance Legislators annual meeting that state legislatures have not accepted their model law for market conduct surveillance, NCOIL agreed to reexamine it.
Insurer trade groups reacted happily. "I think this is a good step forward," said David Snyder, assistant general counsel of the American Insurance Association. "The current model as such has yet to gain any acceptance in the states and has failed with respect to meeting market conduct concerns."
Both the National Association of Insurance Commissioners and NCOIL jointly adopted the current model in the summer of 2004 after two years of debate that left neither side happy with the final outcome
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