The National Association of Mutual Insurance Companies (NAMIC) issued the following comment from Vice President-Federal Affairs, Pamela J. Allen, on the American Insurance Association’s (AIA) proposal for an optional federal charter for property/casualty insurance companies.
“The release of the AIA proposal reflects the growing concern in the industry regarding the need to reform the existing state insurance regulatory system.
“NAMIC continues to support state regulation. NAMIC believes reform of the state system is necessary, deserves immediate action and should be based on principles of consumer protection, free enterprise, regulatory fairness and due process.”
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