Regulators might allow more time for debate before approving an Insurance Receivership Model Act. [@@]
The Financial Conditions “E” Committee at the National Association of Insurance Commissioners, Kansas City, Mo., plans to go over industry objections to the model Wednesday.
The “E” Committee also could consider the model in September, at the NAIC’s fall meeting in New Orleans.
The panel at first seemed eager to approve the model swiftly, but the panel has encountered considerable opposition from the insurance industry.
Virginia Commissioner Al Gross, the “E” Committee chairman, says the committee will be looking at objections to the model from regulators as well as from industry.