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PIA Insurance Foundation Praised for $50,000 Donation to NCOIL Foundation

On July 21, a special executive committee meeting regarding NCOIL's Insurance Legislators' Foundation study on state authority took place with great interest from the legislators...
July 31, 2007

On July 21, a special executive committee meeting regarding NCOIL's Insurance Legislators' Foundation study on state authority took place with great interest from the legislators and the audience. The initial phase of the study takes an in-depth objective look at state insurance regulation in its current form. The study will also address the legal and statutory authority behind primary oversight of insurance, those responsibilities granted and those presently undertaken, funding of regulatory entities, and interaction between the entities within and between states.

PIA National's Regulatory Affairs, Business Issues, and Executive Committees have expressed support for this study and recommended that PIA help fund it. During the meeting, the Professional Insurance Agents Insurance Foundation (PIA Foundation) made a $50,000 donation to the National Conference of Insurance Legislators' (NCOIL) Insurance Legislators' Foundation, receiving praise and gratitude from NCOIL leadership and staff.

"PIA believes that the all authority to regulate insurance belongs in the hands of state DOIs," said PIA National Vice President/Treasurer Ken Auerbach. "We support this study because we are convinced it will yield clear results in alignment with this position and provide a guide for regulators, legislators and others to identify the various authorities and responsibilities for insurance regulation."

PIA Insurance Foundation Donation:  PIA National Vice President/Treasurer Kenneth R. Auerbach, Esq. (center) shakes hands with Senator Alan Sanborn (MI), President of the NCOIL Insurance Legislators Foundation. Looking on is NCOIL Vice President Rep. Brian Kennedy (left), NCOIL executive vice president Susan Nolan (to the right of Ken) and PIA National Director of State Affairs David Eppstein (right).

PIA Insurance Foundation Donates $50,000 to NCOIL Insurance Legislators Foundation (PIA Press Release, July 23, 2007)