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Brevik Comments on 2005 Priorities in National Underwriter Article

Regulatory reform stemming from New York Attorney General Eliot Spitzer's investigations into alleged broker-insurer bid-rigging and contingency fee abuse is PIA's "largest issue going into...
January 20, 2005

Regulatory reform stemming from New York Attorney General Eliot Spitzer's investigations into alleged broker-insurer bid-rigging and contingency fee abuse is PIA's "largest issue going into 2005," according to PIA National Executive Vice President and CEO Len Brevik. The comment came in a wide-ranging article in the National Underwriter (12/30/04) that focused on producer associations and their priorities for the year. Brevik said PIA hopes to talk regulators and legislators out of any initiative that would do more harm than good for the market, especially when it comes to federal regulatory options. "The first law of the jungle is never to look like food," he said. "Federal regulation [of the insurance industry] would turn us into steak."

Brevik said PIA wants to see market reform, but not to the detriment of the state-based regulatory system, which he insists still gets the job done.

Spitzer Shadow Looms Large for '05 (National Underwriter 12/30/04, subscription required)

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