This is a prime example of what happens when legislators that know nothing about the subject introduce legislation. This is remarkably obtuse, unbelievable….
Actually, the legislation was drafted in collaboration between the insurance department and the industry. This is a small, definitional quirk that was adopted from an NAIC approach and can be easily corrected.
Before commenting, it would pay to read the bill first.
I did read it Hank, and the language clearly circumvents NRRA. Maybe you need to read the fed legislation before spouting off about something you know nothing about. There should be no need to have to correct the legislation if our wonderful state politicians would take a moment to learn something about the subject. Sounds like you are a legislative aide or something….
While you’re incorrect in several respects, rather than debate this anonymously in a public forum, I would be happy to take this offline, if you’d like to provide contact information.
My whole point was; how incredibly stupid the offending language made into the legislation in the first place; if you want to defend that stupidity, great! The NAIC has been doing everything they can to needlessly complicate the implentation of NRRA. They are acting like a bunch of crybabies that were not proactive at all regarding this issue. I suspect that many of the commissioners are going to be facing some tough questions in their state as to why they were so ill prepared for NRRA as their tax revenue goes down. I’m pretty sure I know who you are and trust, you do not impress me as much as you impress yourself. Have a nice day.
This is a prime example of what happens when legislators that know nothing about the subject introduce legislation. This is remarkably obtuse, unbelievable….
Actually, the legislation was drafted in collaboration between the insurance department and the industry. This is a small, definitional quirk that was adopted from an NAIC approach and can be easily corrected.
Before commenting, it would pay to read the bill first.
I did read it Hank, and the language clearly circumvents NRRA. Maybe you need to read the fed legislation before spouting off about something you know nothing about. There should be no need to have to correct the legislation if our wonderful state politicians would take a moment to learn something about the subject. Sounds like you are a legislative aide or something….
While you’re incorrect in several respects, rather than debate this anonymously in a public forum, I would be happy to take this offline, if you’d like to provide contact information.
My whole point was; how incredibly stupid the offending language made into the legislation in the first place; if you want to defend that stupidity, great! The NAIC has been doing everything they can to needlessly complicate the implentation of NRRA. They are acting like a bunch of crybabies that were not proactive at all regarding this issue. I suspect that many of the commissioners are going to be facing some tough questions in their state as to why they were so ill prepared for NRRA as their tax revenue goes down. I’m pretty sure I know who you are and trust, you do not impress me as much as you impress yourself. Have a nice day.