2009, ISBN: 9781234147860

RareBooksClub. Paperback. New. This item is printed on demand. Paperback. 162 pages. Original publisher: Washington : U. S. G. P. O. , 2009. LC Number: KF26 . B39 2009x OCLC Number: (OC… Meer...

RareBooksClub. Paperback. New. This item is printed on demand. Paperback. 162 pages. Original publisher: Washington : U. S. G. P. O. , 2009. LC Number: KF26 . B39 2009x OCLC Number: (OCoLC)642344225 Subject: Insurance -- State supervision -- United States. Excerpt: . . . 11 is, and will remain priority one for State regulators. We supervise 36 percent of the worlds insurance market. Our States include four of the top ten, 28 of the top 50 world markets, and alone we sur-pass two, three, and four combined. With the worlds most competi-tive market, we, your States, are the gold standard for regulation in developing countries. Some in the industry take the opportunity of our crisis to clamor for the so-called option Federal charter or deregulation. Respect-fully, this decade-old rhetoric does not warrant the important time of this Committee. To be sure, as with any dynamic industry, insurance regulation must modernize, and it does. We have worked with producers to improve national licensing uniformity and reciprocity. Working with producers, we commented in support of a proposal to improve how States deal with surplus lines. State regulators adopted a com-prehensive reinsurance reform proposal and are presently devel-oping implementation details. The Interstate Compact, a single portal for approval of annuity and life products, has been adopted by 34 jurisdictions. The NAIC maintains the worlds largest insurance financial data base, a consumer information resource, licensing for more than 4 million producers, and other subject matter data. We want to en-sure that this information serves Congress and the Federal execu-tive branch. The NAIC is active internationally, collaborates regularly with our counterparts overseas, serves as technical adviser to the USTR, works with the OECD, the Joint Forum, and others. But accepting the limits of Article I, Section 10 of the Constitution, we acknowl-edge the need for a coordinator of Federal policy on international insurance matters. For these reasons, we work constructively to narrow aspects of preemption and . . . This item ships from La Vergne,TN., RareBooksClub<