NCOIL’s Representative Eiland to House Subcommittee: State Regulation Continues to Evolve

The following Alert was just released by NCOIL:

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NCOIL ALERT

Attached, please find information regarding today’s testimony by Texas State Representative Craig Eiland, representing the National Conference of Insurance Legislators (NCOIL), before the U.S. House Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises regarding insurance regulatory reform.  Also attached is a copy of the testimony.

Rep. Eiland advised the Subcommittee in his testimony that insurance consumers and marketplaces are well-served by state regulation, which states will continue to tailor in response to evolving needs, and he stressed the dynamic and vibrant insurance markets fostered by the states.  While acknowledging that certain areas were in need of regulatory reform—including speed-to-market for life insurance products, rate and form approval, market conduct, and agent and company licensing—Rep. Eiland cautioned members that critics of state regulation have trivialized state progress.

For further details, please contact the NCOIL National Office at 518-687-0178 or Washington, DC Office at 202-220-3014.

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Should you have any questions or comments regarding this information, please feel free to contact this office.