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PIA Insurance Foundation Donates $50,000 to NCOIL Insurance Legislators Foundation

WASHINGTON, July 23, 2007 - The Professional Insurance Agents Insurance Foundation (PIA Foundation) has made a $50,000 donation to the National Conference of...
July 23, 2007

WASHINGTON, July 23, 2007  - The Professional Insurance Agents Insurance Foundation (PIA Foundation) has made a $50,000 donation to the National Conference of Insurance Legislators' (NCOIL) Insurance Legislators' Foundation. 

The contribution was presented July 21 by PIA National Vice President/Treasurer Kenneth R. Auerbach, Esq., during the NCOIL summer meeting in Seattle, Washington, in support of NCOIL's efforts to conduct quality research and education of their state legislators who are responsible for insurance issues in their states. The PIA Insurance Foundation is a 501(c) 3 entity supporting knowledge and progress for a better insurance industry.

"PIA agrees with NCOIL that such a study is needed to assess the authorities and structure of state oversight of insurance," said Auerbach.

"NCOIL would like to express its appreciation to the PIA Insurance Foundation for its sizable contribution to fund this important study," said Senator Alan Sanborn (MI), President of the NCOIL Insurance Legislators Foundation. "As staunch supporters of state regulation of insurance, both NCOIL and PIA believe this study will yield a comprehensive blueprint of state insurance regulation that will serve as an important, authoritative guide for regulators and legislators," Sanborn said. 

The Study on State Authority: Making a Case for Proper Insurance Oversight will take an in-depth, objective look at state insurance regulation in its current form. It will also look at 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.

"This donation, which is unprecedented in the history of PIA, is indicative of the critical importance of this research," said Auerbach. "A study of this nature is particularly needed at this time, in the face of the coordinated campaign now underway to convince Congress to dismantle state regulation of insurance in favor of a federal encroachment that is designed to confer an unfair competitive advantage on banks, securities firms and a handful of large insurance carriers."


NCOIL President Sen. Alan Sanborn (MI), second from left, thanks PIA National Vice President/Treasurer Kenneth R. Auerbach, Esq. for the PIA Foundation's $50,000 donation to the NCOIL Insurance Legislators' Foundation. Looking on are Rep. Brian Kennedy (RI), NCOIL vice-president, left, NCOIL Executive Director Susan Nolan, second from right, and David Eppstein, PIA National director of state affairs.

Founded in 1931, PIA is a national trade association that represents member insurance agents and their employees who sell and service all kinds of insurance, but specialize in coverage of automobiles, homes and businesses. PIA members are Local Agents Serving Main Street America(SM). PIA's web address is www.pianet.com.

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