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PIA of North Dakota Offers Praise for Standing Up Against FIO Study

KUDOS TO NATIONAL PIA: PIA took the lead in calling on Congress to "defund" the study of insurance regulation slated to be conducted by...
February 8, 2011

PIA of North Dakota offers this praise to PIA National for calling for the defunding of a Federal Insurance Office (FIO) study of insurance regulation:

KUDOS TO NATIONAL PIA: PIA took the lead in calling on Congress to "defund" the study of insurance regulation slated to be conducted by the Federal Insurance Office [FIO]. This bold move was broadly supported by agents, NAMIC [National Association of Mutual Insurance Companies] and most regional insurers. The "biggie companies" and AIA [American Insurance Association] opposed the proposal, but they are the supporters for full federal regulation provided by the FIO. Any FIO study will be tainted, prejudiced and non-objective in studying who should regulate the business of insurance. State regulation has worked fine for a century while one only has to look back a few years to see the mess caused by federal regulation of banking, securities, FEMA, Medicare/Medicaid and the list goes on and on! Thanks PIA for standing up!

Click here to read Agent Group Sounds Alarm Over Federal Insurance Study (Insurance Journal 1/19/11)

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