The National Association of Insurance Commissioners says it prefers the House version of a major financial services bill, H.R. 4173, the Wall Street Reform and Consumer Protection Act.
The NAIC, Kansas City, Mo., has sent congressional leaders expressing support for insurance sales and marketing provisions in the House version and for House version provisions that deal with the role of the states in regulating insurance.
House and Senate representatives are expected to start formal efforts to develop a compromise version of H.R. 4173 Thursday.
The NAIC today held a news conference to give its views on the legislation.
“We must consider the impact the final bill will have on state-based regulations,” said NAIC President Jane Cline, the West Virginia insurance commissioner.