At the group's June meeting, the National Association of Insurance Commissioners discussed a proposal to set up a new commission aimed at facilitating regulatory uniformity, National Underwriterlearned recently.
The proposed commission would be put together by the states and authorized by federal law, with the threat of federal preemption for states that don't enact the uniform standards.
According to a proposal obtained by National Underwriter, the National Insurance Supervisory Commission (NISC) would be formed. Its corporate governance and bylaws would be premised on those established in the Interstate Insurance Product Regulation Commission (IIPRC).
Continue Reading for Free
Register and gain access to:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
