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NCOIL to Consider Resolution Opposing OFC at Annual Meeting

PIA National will attend and participate in the annual meeting of the National Conference of Insurance Legislators (NCOIL) November 18-21. At that meeting, the state...
November 9, 2010

PIA National will attend and participate in the annual meeting of the National Conference of Insurance Legislators (NCOIL) November 18-21. At that meeting, the state insurance legislators will consider a proposed Resolution Urging Opposition to Optional Federal Charter Proposals, sponsored by State/Federal Relations Committee Chair Rep. Greg Wren (AL). The resolution asserts that U.S. states have successfully regulated the insurance industry for more than 135 years and continue to modernize oversight as conditions warrant.  The resolution also notes that outgoing House Financial Services Committee Chairman Barney Frank (D-MA) informed NCOIL in July that the committee will consider optional federal charter (OFC) legislation in 2011.

The resolution calls on state leaders, including state regulators, attorneys general, and governors to reinforce their strong opposition to OFC legislation, and it urges Members of Congress to express their strong opposition to forthcoming OFC proposals. PIA National strongly supports this resolution. PIA National Assistant Vice President of Regulatory Affairs David Eppstein davidep@pianet.org will represent PIA at the NCOIL meeting.