The question was: During 2008, how many state legislatures are currently expected to introduce life settlement model legislation developed either by National Association of Insurance Commissioners or National Conference of Insurance Legislators?
b) no more than 5
c) less than 25
d) well over 35
e) all states
The answer is: 3) less than 25. Doug Head, executive director of the Life Insurance Settlement Association, says the NAIC believes its model will be introduced in 15 jurisdictions, a number that is “smaller than I expected.” Bruce Ferguson, senior vice president of state government relations for the American Council of Life Insurers, also believes the NAIC model will be introduced in “probably 12, and perhaps even 15″ states next year, with the NCOIL model coming up in perhaps half as many. However, Ferguson also says that “it’s still relatively early” in the process, so models could surface in other states. click here for entire article