NAIFA CEO: We Didnt Change Our Policy, We Strengthened It
To The Editor:
I would like to clarify a key point in your report on the National Association of Insurance and Financial Advisors board action with regard to its policy concerning possible federal solutions to insurance regulatory problems.
The board voted to “strengthen” its policy with regard to federal regulation not “change” it.
In September 2002, the board voted to “support congressional action to improve and augment the regulation of insurance.” In other words, the decision to support federal solutions under the proper circumstances already was established. The boards recent action merely made it clear that such action could embrace things such as national licensing, optional federal charters for companies and a federal regulator/advocate.
This is not a change in policy, but an effort to strengthen it so that NAIFA is open to all promising options to improve the regulation of the industry.
I also would like to reiterate that NAIFA continues to be a strong supporter of state regulation and will continue to work with the states to improve the state system.
National Association of Insurance and Financial Advisors
Get Real, Mr. Hughes
To The Editor:
This letter is written in response to Gary Hughes letter that appeared in the Dec. 15, 2003, issue of National Underwriter. I have had the opportunity to read and digest the contents of Mr. Hughes letter. I was somewhat disturbed that this letter was written by a person who claims to be knowledgeable in the insurance business.
I have been in the insurance business 40 years, and seen numerous variations of the writer, the only difference is their names and faces, but their thoughts are the same, which is, everything can be better served by the federal government.
I live in rural Southeast Missouri and have agents working in Missouri, Tennessee, Illinois, Kentucky, and Arkansas. Our agency sells Medicare Supplements to residents of these individual states. Each of these states is unique with the laws that they have.