Pennsylvania Insurance Commissioner Joel Ario met with yesterday with directors of the Insurance Agents & Brokers Service Group board of directors to discuss a number of key insurance issues in the Keystone State.
Of particular interest to independent agents: Ario addressed issues surrounding the growth of Internet-based insurance sales and direct writers, asserting his belief that producers offer value-added services that will keep them competitive.
Ario, who also sits on the executive committee of the National Association of Insurance Commissioners, also addressed regulation of the insurance industry, saying that federal regulation is less likely now than before the November 2008 elections. He added that an upgrade of the state-based system may be necessary for some issues, and touting the NAIC’s National Insurance Producer Registry, which seeks to modernize the licensing process.
“There is a great deal of uncertainty in the industry about various reforms and regulations,” said Kathleen Glattly, incoming chairwoman of IA&B, “so it was important for us to hear Commissioner Ario’s viewpoints and voice independent agents’ concerns and needs.”
This is the second time in two years that Ario has met with the IA&B board.