The Property Casualty Insurers Association of America (PCI) provided state regulators a preview of the association’s 2004 regulatory modernization initiatives during the industry liaison session of the National Association of Insurance Commissioners (NAIC) held in New York last Saturday.
PCI, a Des Plaines, Ill.-based industry lobbying group, said it plans to support legislation to modernize personal and commercial lines rate and form filing procedures in 11 states this year. PCI also outlined proposals to initiate market conduct reforms in more than a dozen states and suggested several ways NAIC could streamline its organization structure.
PCI’s target states for personal lines rate modernization are: Connecticut, Florida, Georgia, Kansas, Massachusetts, Mississippi, Nebraska, Pennsylvania, Rhode Island, South Carolina, and Washington. PCI said it will consider supporting a wide variety of modernization proposals. The association also indicated that it would not rule out opportunities to introduce rate regulatory modernization proposals in other states if political conditions were favorable.
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