Top state insurance commissioners told President Obama in person that they are experiencing challenges and frustrations with federal and international agencies regarding the key differences between banking and insurance regulation, among other issues.
Specifically, the head of the National Association of Insurance Commissioners (NAIC) and key NAIC members voiced their concerns to the president about working with the Federal Insurance Office (FIO) on international matters, and also took issue with the lack of a U.S. state insurance regulatory seat at the table of the G-20's influential Financial Stability Board (FSB).
NAIC President Jim Donelon of Louisiana and NAIC International Committee Chair Tom Leonardi of Connecticut, along with NAIC CEO Ben Nelson, former Democratic senator of Nebraska, met Obama at the White House Wednesday to discuss, first and foremost, the handling of and concerns with the high-profile healthcare coverage policy changes stemming from the Patient Protection and Affordable Care Act (PPACA).
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