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Insurance commissioners to hold public hearing on credit ratings in industry
The National Association of Insurance Commissioners will hold a public hearing to discuss the role credit agencies should play in the insurance industry.
Advisers at peace with NAIC proposal for more annuity rules
Although members of the insurance industry and some broker-dealer executives are butting heads with state regulators on tougher annuity regulation, financial advisers cheered the proposed use of Finra-esque suitability layers for all annuity sales.
NAIC’s proposed suitability regulations irk insurers
Insurance carriers and producer groups are balking at a regulatory proposal that would curb commissions for agents and increase the suitability duties of insurance companies.
Brooks named chairman of NAIC’s life and annuities committee
Kermitt J. Brooks, acting insurance superintendent for New York, today was named the chairman of the National Association of Insurance Commissioners' life and annuities committee.
Iowa insurance regulator faults NAIC suitability provision
A state securities and insurance regulator has called for reform of the way states contend with suitability matters for annuities.
Agent fingerprinting seen as gap in state insurance regulation
The lack of a uniform fingerprinting requirement for insurance agents and brokers may serve as new ammunition in the battle over federal regulation of the insurance industry.
Top Illinois regulator blasts Allstate exec’s N.Y. Times Op-Ed
A critique of state regulatory missteps from The Allstate Corp.’s Tom Wilson, did not sit well with Michael T. McRaith, director of the Illinois Division of Insurance.
NAIC shoots down capital and surplus level proposals
In a surprise move, the executive group of the National Association of Insurance Commissioners today vetoed a package of proposals from the insurance industry that would have loosened required capital and surplus levels.
NAIC moves to lower carrier capital, surplus levels
Amid heated debate from the insurance industry representatives and consumer advocates, the National Association of Insurance Commissioners’ capital and surplus relief working group decided yesterday to recommend that the full body adopt six proposals that would ease restrictions on carriers’ required capital and surplus levels.
NAIC moving headquarters to D.C.
Currently, the regulatory group is headquartered in Kansas City, Mo., where it has 377 employees.
Therese Vaughan appointed NAIC chief
She replaces Catherine J. Weatherford, who left the Kansas City, Mo.-based regulatory association to join NAVA Inc. of Reston, Va., as its president and CEO.
NAIC floats easing reserve requirements
The National Association of Insurance Commissioners will hold a public hearing to discuss a proposal that would ease reserve requirements for life insurance companies.
NAIC mulls lower reserves for variable annuities
The group has just completed its initial review of a proposal put forth by the American Council of Life Insurers. The trade association proposed nine initiatives, attempting to provide some reserve relief for their members before yearend.
NAIC floats updating state reinsurance regs
The National Association of Insurance Commissioners of Kansas City, Mo., yesterday adopted a new proposal to modernize state-based regulation of reinsurance.
NAIC issues senior-specific designation rule
The National Association of Insurance Commissioners today announced its adoption of a rule that sets standards on the use of senior-specific designations.
NAIC unveils receivership database
The National Association of Insurance Commissioners today released its global receivership database.
NAIC slams NAIFA on charter support
“We are certainly ... disappointed that NAIFA’s board would suddenly change course on this important consumer protection issue"
NAIC releases laws and practices report
The assessment details areas where reciprocity and uniformity initiatives must improve in U.S. states.
NAIC announces committee heads
Eric Dinallo, superintendent of New York State’s insurance department, will lead the life insurance and annuities committee.
NAIC report slammed by insurance group
“The NAIC investigated itself with an attorney who used to work for the insurers,” said the Life Insurance Settlement Assoc. chief.
