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NCOIL Blasts U.S.-EU Agreement

The announcement that negotiators for the U.S. and the European Union reached a covered agreement on insurance “raises serious concerns because it represents an incursion into the state regulation of insurance,” according to Tom Considine, CEO of the National Conference of Insurance Legislators...
January 18, 2017

The announcement that negotiators for the U.S. and the European Union (EU) reached a covered agreement on insurance “raises serious concerns because it represents an incursion into the state regulation of insurance,” according to Tom Considine, CEO of the National Conference of Insurance Legislators (NCOIL).

NCOIL went on to cite a need to undertake a complete review of the agreement, citing the secret manner in which negotiations were held.  “While most state regulators were not allowed to participate in the process, zero state lawmakers were allowed to participate,” said NCOIL President and Kentucky State Rep. Steve Riggs. “State lawmakers need to make their own thorough review of the Agreement to evaluate the extent of state law preemption by this non-transparent process and Agreement.

“State Lawmakers were not permitted proper representation in these negotiations. We also urge Congress to examine this Agreement closely, in light of the way it interferes with the mandate of McCarran-Ferguson,” concluded Riggs.

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