NU Online News Service, April 17, 3:20 p.m. EDT
A National Association of Insurance Commissioners task force voted yesterday to continue using existing model laws as guidelines for a personal lines regulatory framework and rejected a bid for a less restrictive system.
In a conference call meeting, the NAIC Speed To Market Task Force, part of the Executive Committee, considered adopting a Nov. 20, 2008 draft paper on the "most appropriate regulatory framework for personal lines insurance products," prepared by the Personal Lines Market Regulatory Framework Working Group.
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