You are here:HomeNews CenterInsurance News2004Csiszar Reaffirms His Belief in State Regulation, Says NAIC Needs 'A Place at the Table'

Csiszar Reaffirms His Belief in State Regulation, Says NAIC Needs 'A Place at the Table'

NAIC President and South Carolina insurance commissioner Ernst Csiszar sought to counter criticism from some consumer groups during opening remarks at an NAIC meeting March...
March 22, 2004

NAIC President and South Carolina insurance commissioner Ernst Csiszar sought to counter criticism from some consumer groups during opening remarks at an NAIC meeting March 14 in New York. Earlier this month a coalition of consumer groups wrote the NAIC asking that Csiszar drop what they charged is a radical agenda to deregulate the industry, or resign. Csiszar had immediately branded the charge as "unwarranted and inaccurate."

"Let me state firmly, strictly, affirmatively and without the shadow of a doubt, that contrary to popular reports, I am an unabashed supporter of state regulation. I say it with pride; I say it with passion. I say it because I firmly believe that together, we can change the system," Csiszar said in his opening remarks. He also said that all parties need to accept that congressional action will occur.

"What we are seeing is a message from Congress -- the House in particular -- that sometime before June there will be legislation introduced taking a preemptive type of approach to select a number of issues: market conduct, interstate-compact implementation, agent-licensing, company-licensing, ratings, and so on," Csiszar said, emphasizing that despite the NAIC's distaste for federal oversight, it must "be realistic that this is coming -- so we certainly want to participate in the process. We have been engaged in active dialogues with members of the House."