National Conference of Insurance Legislators (NCOIL) is expressing grave concerns with a proposal by the National Association of Insurance Commissioners (NAIC) to form a commission intended to work alongside a future federal insurance regulator.
In a letter to NAIC president Roger Sevigny, NCOIL president Rep. Robert Damron enumerated the faults NCOIL sees in the creation of a National Insurance Supervisory Commission (NISC). Damron said the creation of NISC would usurp state regulation of insurance.
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