Consumer Watchdog: Most NAIC Commissioners Have Industry Ties

Consumer Watchdog released the analysis as the NAIC was preparing to meet in Austin, Texas.

The group says:

• The NAIC should prohibit former commissioners from taking an insurance industry job for at least a year after leaving office.
• The NAIC should keep former commissioners who go to work for the insurance industry from lobbying former colleagues.
• Governors should avoid appointing insurance industry executives to be insurance commissioners.
• States should prohibit the insurance industry from contributing to the campaigns of insurance commissioner candidates.

Closing the revolving door between the insurance industry and regulators is especially important today because of the prominent role the NAIC is playing in health reform implementation, according to Carmen Baler, Consumer Watchdog’ Washington director.

Consumer Watchdog was previously known as the Foundation for Taxpayer and Consumer Rights. It helped pass California’s Proposition 103 property-casualty insurance rate control law.

Other Consumer Watchdog coverage from National Underwriter Life & Health:

• PPACA: Tax Questions Surface in MLR Discussions
• OII Bill Debuts
• Consumer Group Attack OFC Concept
• House Leader Pulls OII Bill Off Floor
• California Assembly Passes Health Rate Bill