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December 14, 2005 at 07:00 PM
Oregon Insurance Administrator Joel Ario says state insurance regulators and the American Council of Life Insurers may need to gather more information about the market conduct examination process.[@@]
The remarks came up here recently during a Market Regulation and Consumer Affairs Committee session at the winter meeting of the National Association of Insurance Commissioners, Kansas City, Mo.
Regulators conduct 2 types of exams: targeted exams resulting from specific regulatory concerns and non-targeted exams of companies that appear to be doing well.
Linda Lanam, a vice president at the ACLI, Washington, said she is hearing anecdotes from life insurers suggesting that there has been little reduction in the number of non-targeted market conduct exams.
