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Connecticut Governor States “Will Not Be Dictated To” By International Regulators

Connecticut Gov. Dannel Malloy offered a full-throated defense of state-based insurance regulation in the United States during the recent National Association of Insurance Commissioners’ International Insurance Forum in Washington, D.C...
May 28, 2014

Connecticut Governor States “Will Not Be Dictated To” By International Regulators: Connecticut Gov. Dannel Malloy offered a full-throated defense of state-based insurance regulation in the United States during the recent National Association of Insurance Commissioners’ (NAIC) International Insurance Forum in Washington, D.C.

Malloy, a Democrat, said during a keynote address that international insurance regulators should stop “wasting time” by arguing the United States should adopt a uniform regulatory system that supervises companies from the holding company on down.

Malloy told Best’s News Service after his speech that state officials should be “knocking at the doors of other countries and telling them we will not be dictated to” when it comes to the regulation of insurance. “The sooner we put aside the discussion of how we’re going to turn our system into some other system and discuss how our system will interface appropriately with other systems, the better off we’re going to be,” Malloy said, adding there is “zero chance” that states would agree to federal insurance regulation.