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Regulator Praises NCOIL Market Conduct Model

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NU Online News Service, March 2, 2004, 6:15 p.m. EST – Oregon Insurance Administrator Joel Ario is praising the work of the National Conference of Insurance Legislators on market conduct.[@@]

Members of the influential Albany, N.Y.-based group voted unanimously Friday to adopt the group’s Market Conduct Surveillance Model Act.

The model is a “solid” and “promising” work product, Ario says.

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Ario, the secretary-treasurer of the National Association of Insurance Commissioners, Kansas City, Mo., has spearheaded the NAIC’s own market conduct reform efforts.

The NCOIL model will receive expedited consideration at the NAIC starting March 13-16, at the NAIC’s upcoming meeting in New York, Ario says.