The National Conference of Insurance Legislators delivered a one-two punch to the National Association of Insurance Commissioners last week, accusing state regulators of overstepping their bounds on the issues of meeting secrecy and accreditation standards.
In a letter to his NAIC counterpart, NCOIL President and Michigan State Sen. Alan Sanborn, R-Richmond, wrote that NCOIL "believes that the manner in which models are chosen as accreditation standards has been subtly degraded over the years–and perhaps, in a manner of speaking, when no one was looking."
NCOIL has specifically objected to the recent passage of the Insurance Receiver Model Act and amendments to the Model Audit Rule as examples of regulators exceeding their roles in setting state insurance law.
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