New York Insurance Superintendent Howard Mills told a bar group today that the current debate in Congress over insurance regulation will help spur a "slow and ponderous" National Association of Insurance Commissioners into action.
Mr. Mills spoke at the City Bar Center for Continuing Legal Education at an insurance seminar in New York attended by regulators from several states.
The superintendent said, "The threat is a good thing because it will force the NAIC to move with greater dispatch, and if state regulation of insurance is undermined than it could be seen as the fault of the states."
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