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.
NCOIL will hold a special session July 21 during its summer meeting in Seattle to consider preliminary results of the study.
The study will be conducted by Lord, Bissell & Brook, Navigant Consulting Inc. and Joseph Zimmerman, a professor of political science at the Rockefeller College of Public Affairs and Policy, State University of New York at Albany. James Schacht of Navigant Consulting will lead the study group.