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Csiszar: Reform Now or Congress Will Act

The new President of the National Association of Insurance Commissioners started his term by observing that the pressure from Congress for reform of insurance regulation...
March 1, 2011

The new President of the National Association of Insurance Commissioners started his term by observing that the pressure from Congress for reform of insurance regulation is so clear and strong that he can't understand how there could be "any ostriches left out there." South Carolina Insurance Commissioner Ernst Csiszar was elected president of the NAIC during its winter meeting in Anaheim, California. He quickly warned his colleagues that they must speed their efforts to modernize insurance regulation, or risk Congressional intervention. "If we don't, we deserve everything we're going to get," Csiszar told A.M. Best. "It's that simple. We've had our chance. I've been at this five years now and I've seen relatively little progress."