Financial Services Industry
Industry: Email Alert RSS FeedGAO urges federal standards for LTC insurance. (General Accounting Office, long-term care)
National Underwriter Life & Health-Financial Services Edition, July, 1992 by Fisher, Mary Jane
The Senate Finance Medicare and Long-Term Care Subcommittee has heard testimony concerning the adoption of consumer protection standards for long-term care insurance. The General Accounting Office favored the inclusion of National Association of Insurance Commissioners' (NAIC) standards in federal minimum standards, and recommended that agents' sales commissions be regulated. Consumers should also be protected by grievance procedures. Insurance industry representatives testified in favor of the NAIC model regulations, but did not support establishing sales commission restrictions.
WASHINGTON - Congress may wish to adopt minimum federal standards for long-term care insurance that include the current standards of the National Association of Insurance Commissioners, according...
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