State insurance commissioners, after years of inaction on the issue, could approve a measure relatively soon to deregulate rate-setting for personal lines, although insurers are not necessarily thrilled at the prospect. Deputy Alabama Commissioner David Parsons said such a measure could gain approval within the next few months.
Such a relatively speedy outcome could be possible if the panel used the model developed but then abandoned by regulators in 2000, said Mr. Parsons, speaking here last week during the quarterly meeting of the National Association of Insurance Commissioners.
The action caught both regulators and industry representatives by surprise, as there has seemingly been little appetite by the NAIC in the past few years to grapple with the hot-button issue of personal lines deregulation.
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