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November 24, 2002 at 07:00 PM
To The Editor:
In the Oct. 7 National Underwriter, David Snyder of the American Insurance Association published an opinion piece headlined: “Insurers Beware: Juries Are Being Turned Into National Insurance Regulators.”
While most in the insurance industry would certainly agree with Mr. Snyders heed for concern, I find it most ironic that AIAs assistant general counsel would bolster his argument by pointing out how runaway juries “undercut one of the foundations of state regulation of insurance.” Isnt that precisely the goal of AIAs federal chartering bill?
Mr. Snyder warns that “this kind of freelance insurance regulation across state lines erodes the credibility and value of state insurance regulation.” In Florida, we couldnt agree more.
