The new president of the National Conference of Insurance Legislators (NCOIL) is promising to continue the organization’s vigorous opposition to an “optional” federal charter for insurance.
State Rep. Brian Kennedy of Rhode Island is the new NCOIL President. He was elected along with the other NCOIL officers for 2008: Sen. James Seward (NY) as President-Elect; Rep. Robert Damron (KY) as Vice President; Rep. George Keiser (ND) as Secretary; and Sen. Carroll Leavell (NM) as Treasurer.
“We are at a crucial stage in the regulation of insurance,” said Kennedy. “The threat of an optional federal charter (OFC) gets stronger each year and we, as an organization of state legislators, must continue to advocate against an OFC and must tell our federal counterparts in the House and Senate that an OFC represents bad public policy — that it would be detrimental to our constituents and our state governments.”
Kennedy pledged to continue advocating for inclusion of legislators in important insurance policy decisions. He also said he had appointed a subcommittee consisting of NCOIL officers and past presidents that will meet regularly at future NCOIL meetings to discuss implementation of groundbreaking recommendations contained in the just-released Phase II of a Study on State Authority. The report, Kennedy explained, takes an aerial view of state regulation, identifies where it works well, and lays out strategies for necessary state reform.
In addition, Kennedy announced that he had appointed co-chairs for the 2008 standing committees, in order to enhance balance within committee leadership:
Financial Services & Investment Products: Rep. Fulton Sheen (MI) and Assemblyman Ivan Lafayette (NY)
Health, Long-Term Care & Health Retirement Issues: Rep. Susan Westrom (KY) and Del. Harvey Morgan (VA)
International Insurance Issues: Rep. Frank Wald (ND) and Rep. Craig Eiland (TX)
Life Insurance & Financial Planning: Sen. Joseph Crisco (CT) and Rep. Michael Ripley (IN)
Natural Disaster Insurance Legislation (subcommittee): Sen. Steven Geller (FL) and Sen. Dean Kirby (MS)
NCOIL-NAIC Liaison: Sen. Ralph Hudgens (GA) and Rep. Larry Taylor (TX)
Property-Casualty Insurance: Sen. Robert Dearing (MS) and Sen. David Bates (RI)
State-Federal Relations: Rep. Greg Wren (AL) and Rep. Robert Damron (KY)
Workers’ Compensation Insurance: Rep. Kurt Olson (AK) and Sen. Ann Cummings (VT)
November 27, 2007