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Subcommittee to Examine Regulation of Insurance Market Conduct

The House Financial Services Subcommittee on Oversight and Investigation will hold a hearing on May 6 to discuss ways to increase uniformity in state regulation...
May 5, 2003

The House Financial Services Subcommittee on Oversight and Investigation will hold a hearing on May 6 to discuss ways to increase uniformity in state regulation of the insurance industry's market conduct.

The Subcommittee, chaired by Representative Sue Kelly (R-New York), will discuss issues such as the oversight of insurance conduct; sales practices and claims resolution. The witnesses for the hearing are expected to discuss efforts by the states to improve market conduct oversight. The hearing is part of an effort by the Committee to focus concerns about the current nature of insurance regulation.

What It Means for Agents:  While this is a preliminary hearing, it is still important because anything that might affect current insurance regulation is of concern to professional agents.