A major property-casualty trade association has raised concerns about the National Association of Insurance Commissioners' role in creating new databases.
Marsha Harrison, regulatory affairs counsel for the National Association of Mutual Insurance Companies, said “the proliferation of NAIC databases undertaken without regard to cost, duplication or confidentiality is a serious issue for insurers.”
Ms. Harrison noted the NAIC has cooperated with the industry since the 1980s in the development and maintenance of insurer financial information in the Financial Data Repository, and later, producer licensing information in the National Insurance Producer Registry.
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