2006 News Release

Washington, D.C., November 16, 2006  Lawmakers at last week’s National Conference of Insurance Legislators (NCOIL) Annual Meeting in Napa Valley, California, reasserted the need for a modernized market conduct surveillance system by adopting an NCOIL model act that would establish uniformity of market conduct oversight. The Market Conduct Surveillance Model Law, adopted by the NCOIL Executive Committee on November 11, would end costly duplications regarding market conduct exams and follows more than five years of NCOIL work on the issue.

Napa Valley, California, November 15, 2006 The National Conference of Insurance Legislators (NCOIL) took strong action on critical annuities and life settlements insurance issues during the NCOIL Annual Meeting here, adopting a Resolution in Support of Expanding Annuity Suitability Requirements and forming a Subcommittee to reevaluate a long-standing NCOIL Life Settlements Model Act.

Napa Valley, California, November 15, 2006 Legislators took a hard look at a proposal for national mega-catastrophe preparedness at the recent National Conference of Insurance Legislators (NCOIL) Annual Meeting here, when the NCOIL Subcommittee on Natural Disaster Insurance Legislation began its substantive review of—and voiced initial comments on—a draft National Association of Insurance Commissioners (NAIC) catastrophe plan.

Napa Valley, California, November 15, 2006 At the recent National Conference of Insurance Legislators (NCOIL) Annual Meeting here, the Health, Long-Term Care & Health Retirement Issues Committee held a lively debate on proposed pharmacy benefit manager (PBM) legislation and resolved to determine the controversial bill’s future at the upcoming 2007 Spring Meeting.  The Committee also discussed proposed models regarding physician discounts and long-term care partnership programs.

Washington, D.C., November 6, 2006 Building on more than five years of work regarding market conduct surveillance reform, legislators at the National Conference of Insurance Legislators (NCOIL) State-Federal Relations Committee meeting on Friday, November 10, will consider amendments to, and likely adopt a revised version of, an NCOIL Market Conduct Surveillance Model Law.  The session will take place from 3:15 to 5:30 p.m. during the NCOIL Annual Meeting in Napa Valley, California.

Troy, New York, November 6, 2006 Gathered in an earthquake-prone, coastal state, legislators at the National Conference of Insurance Legislators (NCOIL) Annual Meeting in Napa, California, will begin in-depth debate of a draft National Association of Insurance Commissioners (NAIC) plan to create a comprehensive mega-catastrophe system.  The NAIC submitted the proposal for NCOIL consideration.  Discussion will take place at the November 9 Subcommittee on Natural Disaster Insurance Legislation meeting, scheduled from 3:00 to 4:30 p.m.

Troy, New York, November 6, 2006 Landmark reforms in defined benefit pension plan funding and the extension of long-term care partnership programs will take center stage at the National Conference of Insurance Legislators (NCOIL) Annual Meeting in Napa Valley, California.  Lawmakers will convene a general session to investigate the complex issues related to 2006 reforms on Saturday, November 11, during the November 9 through 12 NCOIL Meeting.

Troy, New York, September 28, 2006 The National Conference of Insurance Legislators (NCOIL) reasserted its opposition to applying Sarbanes-Oxley (SOX) corporate governance requirements to non-public insurers in a September 21 letter to state insurance committee chairs.

Troy, New York, July 27, 2006 Lawmakers stood firm in their commitment to state insurance modernization on July 22, when legislators at the National Conference of Insurance Legislators (NCOIL) Summer Meeting in Boston, Massachusetts, reauthorized an NCOIL Property-Casualty Insurance Modernization Model Act that would streamline rate filings for p-c insurers.

Boston, Massachusetts, July 27, 2006 NCOIL legislators on July 20 moved forward in their efforts to effect needed market conduct reform by previewing a newly proposed market conduct surveillance initiative at the NCOIL Summer Meeting here.  NCOIL believes market conduct reform, as well as speed-to-market for life insurance products, rate modernization, and uniform agent and company licensing, is a cornerstone of successful state modernization efforts.

Boston, Massachusetts, July 25, 2006  At the recent National Conference of Insurance Legislators (NCOIL) Summer Meeting here, the Health, Long-Term Care, and Health Retirement Issues Committee considered two model bills focused on one central question: is increased transparency necessary to improve health care?  Consideration on July 21 of draft physician discount secondary market and pharmacy benefit manager (PBM) model laws will lead the way for further review, and possible adoption, of the model acts later this year.

Boston, Massachusetts, July 25, 2006  The National Conference of Insurance Legislators (NCOIL) targeted costly auto insurance fraud on July 22, when legislators at the NCOIL Summer Meeting here adopted an Auto Insurance Fraud Model Act that would take a four-pronged approach to fighting illegal insurance activity.

Boston, Massachusetts, July 25, 2006 The Life Insurance and Financial Planning Committee of the National Conference of Insurance Legislators (NCOIL) focused its attention on the burgeoning life settlements industry on July 21, when legislators here examined new investor-initiated life insurance schemes and scheduled a more in-depth discussion to determine if an NCOIL Life Settlements Model Act would address such contemporary concerns.  The Committee convened during the July 20 through 23 Summer Meeting.

Boston, Massachusetts, July 24, 2006 Legislators preparing for years of heightened storm activity weighed in on the need for effective statewide building codes during the National Conference of Insurance Legislators (NCOIL) Summer Meeting here.  On July 22, lawmakers adopted a Resolution in Support of the Adoption of Stronger Building Codes and Building Requirements as the next step in NCOIL’s effort to encourage state preparedness activity.

Boston, Massachusetts, July 24, 2006 State lawmakers at this weekend’s National Conference of Insurance Legislators (NCOIL) Summer Meeting here recognized the need for national mega-catastrophe preparedness when they voted to further discuss details of a draft NCOIL-National Association of Insurance Commissioners (NAIC) natural disaster proposal.

Boston, Massachusetts, July 24, 2006The National Conference of Insurance Legislators (NCOIL) overwhelmingly supported a model reciprocity agreement for workers’ compensation insurance claims on July 22, during the July 20 through 23 NCOIL Summer Meeting here.

Boston, Massachusetts, July 24, 2006 Prompted by concern over recent National Association of Insurance Commissioners (NAIC) activity on accreditation and receivership law, the National Conference of Insurance Legislators (NCOIL) on July 22 adopted a ResolutionRegarding Efforts to Make Insurer Receivership Model Act (“IRMA”) Provisions Part of the NAIC Accreditation Standards.  Legislators took action during the NCOIL Summer Meeting here.

Troy, New York, July 18, 2006 During an unusually insurance-heavy congressional session in which federal lawmakers are looking, more than ever before, to seize control of state insurance oversight, legislators attending the July 20 through 23 National Conference of Insurance Legislators (NCOIL) Summer Meeting in Boston, Massachusetts, will examine federal preemptive initiatives and highlight key state reforms.  On the agenda, among other items, are federal grabs at state authority, the Interstate Insurance Product Regulation Compact, market conduct surveillance, health insurance reform, and a national mega-catastrophe system.

Troy, New York, July 17, 2006 In light of annual double-digit increases in the cost of health insurance and a staggering number of uninsured, the National Conference of Insurance Legislators (NCOIL) will convene a general session to investigate the complex relationship between state benefit mandates and the cost of health care on Saturday, July 22, during the July 20 through 23 NCOIL Summer Meeting in Boston, Massachusetts.  The session will take place from 8:00 to 9:30 a.m.

Troy, New York, July 11, 2006 In a July 10 letter to U.S. Senators Richard Shelby (R-AL) and Paul Sarbanes (D-MD), Rep. Frank Wald (ND), president of the National Conference of Insurance Legislators (NCOIL), again voiced NCOIL opposition to federal initiatives considered at today’s Senate Banking, Housing, and Urban Affairs Committee hearing entitled Insurance Regulation Reform—initiatives that threaten to unbalance successful state-based regulation of insurance.

Washington D.C., July 10, 2006 Uniform regulation of insurer market conduct will take center stage when lawmakers at the National Conference of Insurance Legislators (NCOIL) July 20 through 23 Summer Meeting in Boston, Massachusetts, gather during special session to consider proposed amendments to an original, February 2004 NCOIL model law.  The session, convened by the NCOIL State-Federal Relations Committee, will take place on July 20 from 2:45 to 4:45 p.m.

Troy, New York, July 7, 2006 Should a pharmacy benefit manager (PBM) be required to disclose confidential financial information?  Are patients and physicians consulted when a drug is substituted for a prescribed treatment?  Would a fiduciary duty requirement for PBMs increase the cost of prescription drugs?  The Health, Long-Term Care, and Health Retirement Issues Committee of the National Conference of Insurance Legislators (NCOIL) will investigate answers to these questions and will determine whether to proceed with controversial model legislation on Friday, July 21, during the July 20 through 23 NCOIL Summer Meeting in Boston, Massachusetts.

Troy, New York, July 3, 2006 With an eye towards finding state solutions for struggling health insurance markets across the country, the Health, Long-Term Care, and Health Retirement Issues Committee of the National Conference of Insurance Legislators (NCOIL) will hear first-hand of Massachusetts’ new, ground-breaking healthcare system on Friday, July 21, during the July 20 through 23 NCOIL Summer Meeting in Boston, Massachusetts.  The Committee will convene from 8:00 a.m. to 9:15 a.m.

Troy, New York, May 31, 2006 Recognizing that the nation must do more to adequately prepare for catastrophic natural events, legislators at the National Conference of Insurance Legislators (NCOIL) July 20 through 23 Summer Meeting in Boston, Massachusetts, will consider a multi-layered system for disaster management.  The plan, contemplated as a joint NCOIL-National Association of Insurance Commissioners (NAIC) effort, was announced today by NCOIL Past President Sen. Steven Geller (FL) and Florida Insurance Commissioner Kevin McCarty.

Troy, New York, May 12, 2006 Legislators of the National Conference of Insurance Legislators (NCOIL) were encouraged last night when S. 1955, the Health Insurance Marketplace Modernization and Affordability Act, was defeated in the Senate during a key procedural motion.  In need of 60 votes to invoke cloture and end further debate, supporters of the bill, sponsored by Senator Michael Enzi (R-WY) fell short in a 55 to 43 vote.

Troy, New York, April 5, 2006 In response to the long-threatened introduction of S. 2509, theNational Insurance Act of 2006, the National Conference of Insurance Legislators (NCOIL) reasserts its strong opposition to optional federal charter legislation on grounds that it has been crafted not to serve the public but to gratify the industry

Troy, New York, March 14, 2006 The National Conference of Insurance Legislators (NCOIL) today expressed strong opposition to S. 1955, the Health Insurance Marketplace Modernization and Affordability Act, introduced by United States Senator Michael Enzi (R-WY).  In a letter directed to Enzi and cosponsor Senator Ben Nelson (D-NE), legislators stressed that S. 1955 would not achieve its intended goal.  The bill would authorize the creation of small business health plans (SBHPs) that would be exempt from state regulation.

Weston, Florida, March 3, 2006Legislators at the National Conference of Insurance Legislators (NCOIL) Spring Meeting this past weekend heard heated testimony relating to controversial proposals that would relax reinsurance collateral requirements for non-US reinsurers.  At an NCOIL Executive Committee meeting on February 27, lawmakers, in the process of vetting a critical Insurance Legislators Foundation (ILF) study entitled Enforcement of US Judgments Abroad, heard pros and cons on the debate on one of the key points of contention in the collateral debate, that of collectibility.

Weston, Florida, March 2, 2006 At the National Conference of Insurance Legislators (NCOIL) Spring Meeting here, members of the Health, Long-Term Care, and Health Retirement Issues Committee expressed strong concerns regarding the most recent attempt by federal lawmakers to preempt state insurance regulation via Association Health Plan (AHP) legislation.  On February 24, during the February 23 through 26 NCOIL Spring Meeting, the committee heard testimony regarding the current status of S.1955, the Health Insurance Marketplace Modernization and Affordability Act of 2005, introduced by United States Senator Michael Enzi (R-WY).  NCOIL has vigorously opposed AHP legislation on grounds that Congress has a poor record of monitoring financial solvency and ensuring consumer protections.

Weston, Florida, March 2, 2006At a special National Conference of Insurance Legislators (NCOIL) meeting on February 24, legislators renewed their efforts to enact market conduct surveillance reform and created a special subcommittee charged with examining viable NCOIL options, including an initial, February 2004 NCOIL Market Conduct Surveillance Model Law.  The discussion, which also included a call for interested party comments, was held by the State-Federal Relations Committee during the NCOIL Spring Meeting in Weston, Florida.

Weston, Florida, March 2, 2006 During a February 23 gathering of the National Conference of Insurance Legislators (NCOIL) Task Force on Terrorism, lawmakers challenged the National Association of Insurance Commissioners (NAIC) to join with NCOIL in forming a joint task force to explore long-term solutions for terrorism risk management.  The Terrorism Risk Insurance Extension Act of 2005, S.467, will expire in December of 2007.

Weston, Florida, March 2, 2006 State legislators at the National Conference of Insurance Legislators (NCOIL) Spring Meeting here unanimously adopted on February 25 a Resolution on the Application of Federal Sarbanes-Oxley Standards to State Insurance Regulation.  The resolution opposes a National Association of Insurance Commissioners’ (NAIC) plan to apply Sarbanes-Oxley (SOX) corporate governance and accounting rules to non-public carriers, via revisions to the NAIC Model Audit Rule.

Weston, Florida, March 1, 2006 Legislators at the National Conference of Insurance Legislators (NCOIL) Spring Meeting this past weekend reasserted NCOIL’s long-standing support for a national mega-catastrophe program and outlined concerns with a regulator plan to establish a multi-layered cat system.

Weston, Florida, March 1, 2006 Following a passionate debate on the regulation of pharmacy benefit managers (PBMs), legislators at the National Conference of Insurance Legislators (NCOIL) February 23 through 26 Spring Meeting voted to further investigate controversial PBM practices at the organization’s Summer Meeting in July and to consider possible adoption of an NCOIL model law.

Weston, Florida, February 28, 2006 Legislators of the National Conference of Insurance Legislators (NCOIL) Workers’ Compensation Insurance Committee endorsed the concept of reciprocity agreements for workers’ compensation insurance claims on February 23, during the February 23 through 26 NCOIL Spring Meeting here.  The committee voted overwhelmingly to support a Model Agreement Between Jurisdictions to Govern Coordination of Claims and Coverage, and referred it to the NCOIL Executive Committee for further discussion on February 25.

Troy, New York, February 20, 2006 Gathered in hurricane-prone Florida for the National Conference of Insurance Legislators (NCOIL) February 23 through 26 Spring Meeting, state lawmakers from across the country will examine a draft mega-catastrophe program and, among other things, decide on next steps to promote effective reform.

Washington D.C., February 17, 2006 Lawmakers at the National Conference of Insurance Legislators (NCOIL) February 23 through 26 Spring Meeting in Weston, Florida, will hold a special session to review viable NCOIL market conduct reform initiatives.  Specifically, an NCOIL Market Conduct Surveillance Model Law, adopted in February 2004, will be considered as an option for future NCOIL market conduct model legislation.  The bill could replace a joint NCOIL-National Association of Insurance Commissioners (NAIC) model act that the organizations adopted in July 2004 and September 2004, respectively.  The February 24 special meeting will be convened by the State-Federal Relations Committee from 4:00 to 5:30 p.m.

Troy, New York, February 17, 2006  Sure to ignite strong opinions regarding the role of pharmacy benefit managers (PBMs) in today’s health care system, the Health, Long-Term Care, and Health Retirement Issues Committee of the National Conference of Insurance Legislators (NCOIL) will convene a formal debate on the issue on Thursday, February 23, during the February 23 through 26 NCOIL Spring Meeting in Weston, Florida.

Washington D.C., February 17, 2006 In what promises to be a spirited debate over the National Association of Insurance Commissioners’ (NAIC) current plan to apply Sarbanes-Oxley (SOX) corporate disclosure and accounting rules to non-public carriers, legislators on the National Conference of Insurance Legislators’ (NCOIL) Financial Services & Investment Products Committee will consider a proposed Resolution on the Application of Federal Sarbanes-Oxley Standards to State Insurance Regulation, sponsored by Rep. George Keiser (ND).  The Committee will convene on February 24 from 8:00 to 9:15 a.m., during the February 23 through 26 NCOIL Spring Meeting.

Troy, New York, February 17, 2006  The National Conference of Insurance Legislators (NCOIL) applauds the United States Congress for passing legislation that effectively expands the accessibility of long-term care partnership programs.  President Bush signed the Deficit Reduction Act of 2005 on February 8, 2006, one week after the House of Representatives passed the measure by a 216-214 margin.  The bill previously passed the Senate by a 51-50 vote on December 21, 2005.