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NAIC Leaders Hold Conference; OFC, Fingerprinting to be Addressed

State insurance Commissioners are in the midst of four days of meetings in Naples, Florida. Topics at the National Association of Insurance Commissioners (NAIC) sessions...
February 8, 2006

State insurance Commissioners are in the midst of four days of meetings in Naples, Florida. Topics at the National Association of Insurance Commissioners (NAIC) sessions will include an optional federal charter (OFC) for insurers - which the NAIC opposes. Commissioners may find out more about last week's closed-door meeting between supporters of an OFC and Treasury Department officials when Emil Henry, assistant secretary for Financial Institutions at Treasury, delivers a speech. Henry presided over the meeting (see related story).

NAIC President and Maine Insurance Commissioner Al Iuppa said, "We don't think of it as an optional federal charter. We think of it as a federal charter. We don't particularly think of it as optional." Iuppa also said that the effectiveness of state regulation will be demonstrated by the advancement of the NAIC's Interstate Compact, telling the National Underwriter that the six states still needed to attain the 26 state mark to make the compact active will "very likely" be attained this year.

Commissioners are also expected to discuss the Authorization for Criminal History Record Check Model Act. A draft of the Model failed in the NAIC D-Committee on January 20, when no committee member would make a motion to adopt it and send it to the NAIC's Executive Committee. A week earlier, PIA submitted formal comments to the D-Committee, advising that PIA National strongly recommended that the NAIC not consider the model at this time. But there may be another attempt to advance a model, this time directly from the NAIC Executive Committee.

PIA National will continue to work with the NAIC to ensure that any fingerprint model that may be developed satisfies the needs of our members. PIA Director of State Affairs David Eppstein davidepp@pianet.org is attending the NAIC sessions.