AIA backs federal role. (American Insurance Association).(Letter)(Letter to the Editor)

National Underwriter Property & Casualty-Risk & Benefits Management, December, 2003 by Berrington, Craig

To THE EDITOR: In a Nov. 3 letter to National Underwriter ("Say No To Federal Regs, NAIC President Contends"), National Association of Insurance Commissioners President and Arkansas Insurance Commissioner Mike Pickens ponders why momentum is growing for federal involvement in the insurance regulatory system and supplies some of his own explanations for the phenomenon.

Regrettably, Commissioner Pickens makes several assertions that are inaccurate and should be clarified. In fact, a substantial portion of the property-casualty industry, nearly all life insurers, and a significant number of brokers, agents and other stakeholders are exploring alternatives to the current, deeply flawed state-based insurance regulatory system. The debate over how insurance...

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