Consumer advocates face an institutional bias at the National Association of Insurance Commissioners because they lack the people and money to level the playing field in lobbying regulators, according to Birny Birnbaum, executive director of the Center for Economic Justice.
Mr. Birnbaum, a longtime critic of insurance industry practices, earlier had announced he would not be renewing his application to remain an NAIC-funded consumer representative.
He said insurers have virtually unlimited financial resources to convey their messages to regulators. "Insurers spend tens of millions of policyholder-supplied funds to lobby for insurer interests. In contrast, consumer interests have few such resources," said Mr. Birnbaum.
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