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June 08, 2007 at 02:05 PM
The American Insurance Association and the Center for Economic Justice both want to hear more about new model development rules at the National Association of Insurance Commissioners.
The AIA, Washington, represents insurers, and the Austin, Texas-based economic justice center speaks for consumers.
Representatives for both organizations said here at the summer meeting of the NAIC, Kansas City, Mo., that they have concerns about recently adopted NAIC procedures that will give the NAIC’s executive committee the authority to separate model development efforts with broad, deep support from other model efforts.
Measures that appear to have strong support from two-thirds of NAIC members will advance as models, and the other measures will advance as “guidelines” that simply represent “best practices,” under the current rules.
The NAIC developed the changes in the procedural rules during closed meetings, and that indicates a failure by the NAIC to involves its stakeholders, according to Birny Birnbaum, an economic justice center representative who gets NAIC funding to represent consumer interests at NAIC meetings.
Birnbaum asked why the NAIC used closed executive sessions to make the changes in NAIC procedures.
