An effort to clarify the National Association of Insurance Commissioners' stance on federal legislation to repeal insurers' antitrust exemption will highlight the agenda when the group meets next month.
During the summer quarterly session set for June 1-4 in San Francisco, the year's first meeting of the Industry Liaison Committee will have repeal of the McCarran-Ferguson Act exemption and database confidentiality on the agenda.
David Snyder, assistant general counsel for the American Insurance Association, said insurers wanted a strong commitment from the NAIC that the group will take an unequivocal stance against repeal of the 62-year-old law, which delegates the regulation of insurance to the states.
Some concern was raised, he said, by Iowa Commissioner Susan Voss' congressional testimony earlier this year where the NAIC equivocated somewhat on the issues surrounding the proposed repeal.
Also next week, regulators and industry representatives will continue to mull plans for the Reinsurance Evaluation Office, which will serve as the mechanism to reduce the 100 percent collateral requirement for non-U.S. reinsurers.
The Reinsurance Task Force will also examine plans to look at an overhaul of reinsurance regulation in general with an eye toward a more enterprise-management approach.
The Producer Licensing Working Group will continue to study state compliance with reciprocity standards put in place with the passage of the Producer Licensing Model Act. Some agent group representatives have complained that some states have been slow in recognizing the licenses of other states.
The Catastrophe Insurance Working Group will continue to look at the development of a national catastrophe plan that will include such items as checklists for agents when selling property insurance and mediatory offerings of property catastrophe coverage in states.
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