The National Association of Mutual Insurance Companies has joined a chorus of insurance industry opposition to the regulators' proposed fingerprint model that includes company officers and directors.
Marsha Harrison, NAMIC regulatory affairs counsel, said that mandatory fingerprinting as part of company licensing procedures has already been considered and rejected during development of the NAIC Uniform in favor of a biographical affidavit containing more data and a verification process Certificate of Authority Application (UCAA).
NAMIC said the fingerprinting would conflict with existing company licensing provisions and concerns for confidentiality.
“While no changes have been made to the UCAA to include a fingerprinting requirement, the model law now under consideration certainly seems to favor, and suggest that states consider adopting, the officer and director fingerprinting as a new requirement,” Ms. Harrison wrote in comment to regulators.
Ms. Harrison suggested that fingerprinting of officers and directors should more appropriately be considered by the National Treatment Working Group as part of its ongoing deliberations and omitted from the current model.
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