NU Online News Service, Jan. 9, 2004, 5:39 p.m. EST – The National Conference of Insurance Legislators, Albany, N.Y., has cut a whistleblower protection provision from the latest draft of its Market Conduct Surveillance Model Act.[@@]
NCOIL released the draft Tuesday. Comments on the draft are due Jan. 15.
Supporters of the whistleblower provision say the provision would make it easier to encourage people to report market conduct wrongdoings. Opponents say many states already have their own whistleblower provisions.
Representatives for 2 key consumer groups disagree about the importance of the change.
In general, the NCOIL model does an “excellent job” of balancing consumer and industry interests, according to Kevin Hennosy, a consumer advocate and publisher at SpreadtheRisk.org, Kansas City, Mo.