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Rep. Bean offers more details on insurance reform proposal
A proposal to create an Office of National Insurance is being fine-tuned, as its sponsors determine whether to make a federal charter optional or mandatory for insurers who are deemed “systematically...
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Insurance reform bill sparks praise, criticism from groups
Groups are lining up on both sides now that two members of Congress have formally introduced a bill seeking to create an optional federal charter through an Office of National Insurance. Melissa Bean...
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Group sees federalization as ‘roll back’ of regulation
Federal regulation of insurance, based on a proposal before Congress, would “roll back strong, state based consumer protections,” according to the nonpartisan group, Consumer Watchdog. Reps. Melissa...
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Insurance companies pump $35.7 billion into congressional coffers
Insurance companies, including auto, home, business and life insurers, contributed more than $35.7 million to members of Congress over the last two election cycles, with an emphasis on those involved...
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Obama proposes national insurance office as part of regulatory reform
Rather than implement an optional federal charter or sweeping regulations, the Obama Administration is proposing a national office of insurance to oversee the industry. Today (June 17), President...
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Consumers favor optional federal charter, survey finds
Consumers favor an optional federal charter, according to a consumer advocacy group’s survey, because it would give them the ability to keep their insurance coverage and agent even if they change...
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Rep. Royce asks NAIC to answer if it is regulatory or ‘private group’
A congressman from California is asking the organization representing state insurance commissioners to explain what it meant last summer when it said it wanted to “to brand itself as a...
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AIA challenges ‘closed-door’ meeting between consumer, commissioners
An insurance association member questioned a “closed door” meeting among consumers groups and a National Association of Insurance Commissioners’ (NAIC) joint working group on automobile insurance. The...
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As long as perception of closed door remains, NAIC’s image is tarnished
The National Association of Insurance Commissioners, the organization representing each state’s insurance department, is a worthwhile venture because it serves to create uniformity in the regulation of...
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If we know what the NAIC is not, does that help with what it is?
Somewhere between the time I wrote March 22 piece on the National Association of Insurance Commissioners, the group of state insurance regulators, (NAIC) and the time it was posted, the NAIC resolved...
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