NAMIC Set for Regulation Testimony

May 21, 2002

The National Association of Mutual Insurance Companies (NAMIC) said it looks forward to testifying before the House Financial Services Committee during hearings on insurance regulation next month.

“NAMIC’s recently published public policy paper Regulation Of Property/Casualty Insurance: The Road to Reform should give our witness credibility in the hearing,” Monte Ward, vice president-federal affairs, commented. “The paper examines the reasons to regulate insurance, summarizes the current system of state regulation, evaluates the federal and dual regulation alternatives, proposes specific reforms to state regulation, and offers a means to achieve reform through the states.

“NAMIC believes state regulation should be reformed, and that reform can be accomplished in the state capitols,” Ward added.

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