The Alliance of American Insurers, a longtime advocate of repeal of anticompetitive countersignature laws, says it backs the lawsuits filed June 11 against Florida and Nevada by the Council of Insurance Agents and Brokers (CIAB).
“The Alliance is pleased that state countersignature laws are once again in the spotlight,” Rey Becker, Alliance vice president of property/casualty, commented.
“Throughout the 1990s, the Alliance successfully fought to repeal state countersignature laws all around the country. While the results were gratifying, we remain disappointed that a handful of state legislatures and insurance departments couldn’t be persuaded to send these dinosaurs into extinction.
“These archaic and protectionist laws remain on the books in Florida, Mississippi, South Dakota, Nevada, and West Virginia. Since we have ‘hit the wall’ in terms of getting them repealed, we are intrigued by the recent announcement that the CIAB is initiating legal challenges against the Florida and Nevada laws.”
The Alliance will review the cases and discuss them with its member companies to consider what, if any, action to take, Becker added.
Was this article valuable?
Here are more articles you may enjoy.