NCOIL To Study State Regulation

The National Conference of Insurance Legislators, Troy, N.Y., is launching what it says will be a thorough study of state insurance regulation.

The Study on State Authority will examine both where the insurance market works well and where it does not, according to NCOIL’s president, Michigan Sen. Alan Sanborn.

The study’s goal is to provide recommendations to clarify and define the role of state insurance departments and their oversight duties to promote an effective and efficient regulatory environment. NCOIL says it will use the findings and recommendations to set a strategic agenda for the development of a policy on state insurance regulation, which each state can consider for adoption.