2007 News Release

Houston, Texas, December 2, 2007  National Conference of Insurance Legislators (NCOIL) President Rep. Brian Kennedy (RI) at a meeting here today told members of the National Association of Insurance Commissioners (NAIC) that state legislators—because they have delegated authority by statute to insurance regulators and the NAIC—are compelled to actively oversee such entities.  Rep. Kennedy informed state insurance commissioners at an NAIC Legislative Liaison Committee meeting that NCOIL has formed a select subcommittee to implement appropriate strategy recommended by A Study on State Authority:  Making a Case for Proper Insurance Oversight.  The  Insurance Legislators Foundation (ILF)—the research and educational arm of NCOIL—commissioned the study to take an in-depth objective look at insurance regulation in the states in order to make necessary improvements.

Troy, New York, November 21, 2007  State Rep. Brian Kennedy (RI), president of the National Conference of Insurance Legislators (NCOIL), today announced the recent election of the following officers for 2008:  Senator James Seward (NY) as President-Elect; Rep. Robert Damron (KY) as Vice President; Rep. George Keiser (ND) as Secretary; and Sen. Carroll Leavell (NM) as Treasurer.

Troy, New York, November 9, 2007   Phase II recommendations of a groundbreaking Study on State Authority:  Making a Case for Proper Insurance Oversight will be aired on November 16, when the NCOIL Executive Committee and Insurance Legislators Foundation (ILF) Board hold a joint meeting on the study’s proposed strategies to enhance state regulatory reform.  The recommendations, revolutionary in nature, propose a rethinking and enhancement of the current regime.  Legislators at the session, scheduled from 2:30 to 4:00 p.m. during the NCOIL Annual Meeting in Las Vegas, Nevada, will also consider a related proposed resolution regarding redirection of state assessments in order to facilitate the system envisioned by the recommendations.

Troy, New York, August 17, 2007  In a dispatch this week to the National Association of Insurance Commissioners (NAIC) reiterating concern regarding closed NAIC meetings, Rep. Brian Kennedy (RI) strongly recommended a change in NAIC policy.  He also stressed the need for an “open and free” dialogue between legislators and regulators at NAIC meetings

Troy, New York, July 26, 2007  The National Conference of Insurance Legislators (NCOIL) at its Summer Meeting in Seattle on July 21 aired Phase I of A Study on State Authority: Making a Case for Proper Insurance Oversight—the first study of its kind to take an aerial snapshot of state regulation in its current form—to find where it works well and contributes to a healthy insurance market and where it may not work as well and inhibits that market.

Troy, New York, May 8, 2007   “What benefit exists for making a model that is untried and untested—that has been passed in only one or two states—a mandatory accreditation standard?” asks National Conference of Insurance Legislators (NCOIL) President Sen. Alan Sanborn (MI) in his most recent letter to the National Association of Insurance Commissioners (NAIC) expressing concern over “an unraveling” of the approval process for additions to its accreditation program.

Troy, New York, May 4, 2007  In a strongly worded letter last week, NCOIL Vice President Brian Kennedy (RI) again communicated his concern to the National Association of Insurance Commissioners (NAIC) regarding its open meetings policy.  The April 30 letter to Commissioner Walter Bell (AL), NAIC President, cautioned that NAIC closed sessions show regulators’ disregard for their respective state “Sunshine Laws.”

Financial Services & Investment Products

Savannah, Georgia, March 8, 2007 Legislators at the recent National Conference of Insurance Legislators (NCOIL) Spring Meeting here voted against developing a payday lending model act out of concern that it might imply NCOIL endorsement of the industry and, instead, chose to monitor the issue and consider further action if necessary.  Lawmakers convened during the March 1 Financial Services and Investment Products Committee meeting.

Washington, DC, February 21, 2007The National Conference of Insurance Legislators (NCOIL) Financial Services and Investment Products Committee will further its examination of payday loan abuses on March 1, when legislators at the NCOIL Spring Meeting in Savannah, Georgia, discuss state payday lending activity and consider pursuing a draft NCOIL model act.  The meeting will take place from 3:30 p.m. to 4:45 p.m.

Health, Long-Term Care & Health Retirement Issues

Troy, New York, November 20, 2007  The National Conference of Insurance Legislators (NCOIL) voiced support for state-based health reform when lawmakers unanimously adopted a Resolution in Support of H.R. 506, The Health Partnership through Creative Federalism Act, on November 17, during the NCOIL Annual Meeting in Las Vegas, Nevada.  The resolution, sponsored by NCOIL leadership, endorses H.R. 506 and its Senate companion, S. 2772, which would provide grants for state-based health innovations, and urges state lawmakers to contact their congressional delegations to endorse the bills.

Seattle, Washington, July 27, 2007  Spurred on by a March 26 New York Times article regarding alleged abuses in the long-term care insurance market, the National Conference of Insurance Legislators (NCOIL) Health, Long-Term Care & Health Retirement Issues Committee here began its investigation into whether current long-term care insurance regulation adequately protects consumers.

Troy, New York, June 18, 2007   In the wake of a March 26 New York Times article regarding alleged abuses in the long-term care insurance market, the National Conference of Insurance Legislators (NCOIL) Health, Long-Term Care & Health Retirement Issues Committee is poised to investigate current industry practices on July 20 from 1:15 to 2:45 p.m., during the July 18 through 22 NCOIL Summer Meeting in Seattle, Washington.

Savannah, Georgia, March 7, 2007 State legislators took an important step to protect the health of America’s children when the National Conference of Insurance Legislators (NCOIL) decided to send a letter to Congress regarding the State Children’s Health Insurance Program (SCHIP).  Gathered here for the NCOIL Spring Meeting, legislators unanimously supported the letter in the Health, Long-Term Care & Health Retirement Issues Committee and the Executive Committee.

Savannah, Georgia, March 7, 2007 The National Conference of Insurance Legislators (NCOIL) Health, Long-Term Care & Health Retirement Issues Committee postponed indefinitely a proposedModel Act Regarding Pharmacy Benefit Managers (PBMs).  Members, gathered here to attend the NCOIL Spring Meeting, decided against further consideration of an NCOIL PBM model law after nearly two years of debating related issues.

Troy, New York, February 7, 2007The National Conference of Insurance Legislators (NCOIL) will debate health policy issues that could dramatically reshape the current health insurance landscape during its March 1 through 4 Spring Meeting in Savannah, Georgia.

Troy, New York, February 2, 2007After more than a year of debate, the National Conference of Insurance Legislators (NCOIL) Health, Long-Term Care & Health Retirement Issues Committee is poised to take action on issues related to pharmacy benefit managers (PBMs) on Thursday, March 1, during the March 1 through 4 NCOIL Spring Meeting in Savannah, Georgia

Life Insurance & Financial Planning

Troy, New York, November 20, 2007   Following more than 35 hours of debate over the past 16 months, the National Conference of Insurance Legislators (NCOIL) unanimously adopted an amended NCOIL Life Settlements Model Act on November 17, during the NCOIL Annual Meeting here.  The model law is a targeted attempt to prohibit controversial stranger-originated life insurance (STOLI) transactions while encouraging legitimate life settlements.

Seattle, Washington, July 24, 2007   Following more than six hours of extensive discussion and debate at the July 18 through 22 National Conference of Insurance Legislators (NCOIL) Summer Meeting here, Subcommittee on Life Settlements members completed their review of controversial amendments to an NCOIL Life Settlements Model Act, and approved a new draft of the model law.

Troy, New York, April 26, 2007  Interested parties from across the country went toe-to-toe on issues related to controversial stranger-originated life insurance (STOLI) at a six-hour meeting of the National Conference of Insurance Legislators (NCOIL) recently.  During the special interim meeting held on April 20 by the NCOIL Subcommittee on Life Settlements, representatives of the life insurance, life settlement, and premium finance industries, as well as financial advisors and the investor community weighed in on how STOLI should be addressed in an updated version of an NCOIL Life Settlements Model Act to be considered in July.

Troy, New York, March 30, 2007Representative Michael Ripley (IN), Chair of the National Conference of Insurance Legislators (NCOIL) Life Insurance & Financial Planning Committee, has scheduled an interim meeting of an NCOIL Subcommittee on Life Settlements on Saturday, April 21, at the Hyatt Regency Crystal City at Reagan National Airport outside Washington, D.C.  During the meeting, which is scheduled from 10:00 a.m. to 4:00 p.m. and will be open to the public, legislators will consider amending an NCOIL Life Settlements Model Act.

Savannah, Georgia, March 8, 2007Members of the National Conference of Insurance Legislators (NCOIL) Life Insurance & Financial Planning Committee received testimony and debated controversial issues regarding life settlements at a special meeting held here during the NCOIL Spring Meeting.  Deep into the afternoon, legislators discussed emerging stranger-originated life insurance (STOLI) schemes, before coming together to pass a resolution addressing STOLI and the National Association of Insurance Commissioners (NAIC).

Troy, New York, February 2, 2007  –  The National Conference of Insurance Legislators (NCOIL) has scheduled a special meeting to discuss updating its position on life settlements to accommodate current issues, including insurable interest and stranger-owned life insurance (STOLI), on March 2, from 4:00 p.m. to 5:30 p.m., during the March 1 through 4 NCOIL Spring Meeting in Savannah, Georgia.

Natural Disaster Legislation

Seattle, Washington, July 24, 2007   The National Conference of Insurance Legislators (NCOIL) took a big step forward to promote state mitigation on July 20, when lawmakers unanimously adopted a proposed Resolution Regarding State Land-Use Policies during the July 18 through 21 NCOIL Summer Meeting here.

Savannah, Georgia, March 6, 2007 Legislators at the National Conference of Insurance Legislators (NCOIL) Spring Meeting here laid a foundation for statewide building standards on March 3, when the NCOIL Executive Committee unanimously adopted a proposed Model State Uniform Building Code that encourages development and enforcement of strong construction requirements.

Property-Casualty Insurance

Troy, New York, November 20, 2007   The critical safety nets that protect consumers when their insurers become insolvent will offer even stronger defense under a new National Conference of Insurance Legislators (NCOIL) property-casualty insurance guaranty fund model law, adopted by the NCOIL Executive Committee on November 17, during the NCOIL Annual Meeting in Las Vegas, Nevada.

Seattle, Washington, July 24, 2007  The National Conference of Insurance Legislators (NCOIL) took strides to strengthen out-of-date guaranty fund laws on July 20, when its Property-Casualty Insurance Committee engaged in an important debate regarding a proposed Post-Assessment Property and Liability Insurance Guaranty Association Model Act.  The discussion took place during the July 18 through 22 NCOIL Summer Meeting here.

Savannah, Georgia, March 6, 2007Responding to alleged abuses regarding auto rental companies and the questionable liability waivers they sell, lawmakers at this weekend’s National Conference of Insurance Legislators (NCOIL) Spring Meeting here voted unanimously to pursue development of a model law that would bring clarity to an otherwise confusing marketplace.

State-Federal Relations

Washington, DC, October 30, 2007 National Conference of Insurance Legislators (NCOIL) Past President and current State-Federal Relations Committee chair Representative Craig Eiland (TX) advised members of the U.S. House Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises that insurance consumers and marketplaces are well-served by state regulation, which states will continue to tailor to respond to market needs.

Troy, New York, August 24, 2007   Leadership of the National Conference of Insurance Legislators (NCOIL) in an August 24 letter to the National Governors Association (NGA) commended the NGA for promoting state interests, and urged the organization to stand its ground in opposing optional federal charter (OFC) legislation.  The letter followed and disputed ill-advised recommendations by the American Insurance Association (AIA) and American Council of Life Insurers (ACLI) in an August 22 letter to the NGA.

Seattle, Washington, July 24, 2007   As Members of Congress fire shots across the bow of state insurance regulation, the National Conference of Insurance Legislators (NCOIL) retaliated by taking aim at federal preemptive efforts in strongly-worded missives.  At the July 18 through 22 NCOIL Summer Meeting here, 26 members of the NCOIL Executive Committee signed a letter to Senators John Sununu (R-NH) and Tim Johnson (D-SD) opposing S. 40, The National Insurance Act of 2007, and adopted a resolution opposing repeal of the McCarran-Ferguson Act.

Washington, DC, April 18, 2007  Leadership of the National Conference of Insurance Legislators (NCOIL) in an April 12 letter to the U.S. Chamber of Commerce has urged caution regarding the Chamber’s rumored support of an optional federal insurance charter (OFC).  In the letter to Chamber President Tom Donohue, NCOIL officers and past presidents–most of whom are in business themselves–counsel the Chamber to consider the negative consequences of an OFC on businesses and consumers alike before opting to back such an initiative.

Washington, DC, April 16, 2007  The National Conference of Insurance Legislators (NCOIL) recently urged the Senate Judiciary Committee to proceed with caution regarding S. 618, the Insurance Industry Competition Act of 2007, that would repeal the McCarran-Ferguson Act limited antitrust exemption for insurers.  In an April 6 letter to Committee Chair Patrick Leahy (D-VT), NCOIL expresses concern that S. 618 misinterprets the role of states in enforcing antitrust protections and would jeopardize insurer practices that promote available and affordable coverage, expose insurance markets to uncertainty and litigation, and create an environment that inadvertently disadvantages consumers most in need.

Washington, DC February 16, 2007 The National Conference of Insurance Legislators (NCOIL) will explore the consequences of repealing or amending the McCarran-Ferguson Act during a March 3 general session entitled Amending McCarran-Ferguson: The Beginning of the End of State Regulation? The event will take place during the March 1 through 4 NCOIL Spring Meeting in Savannah, Georgia.

Workers’ Compensation Insurance

Troy, NY, November 20, 2007   In a move toward accountable rating of certain workers’ compensation insurance, the National Conference of Insurance Legislators (NCOIL) unanimously adopted a Model Act Regarding Workers’ Compensation Insurance Coverage in Professional Employer Organization (PEO) Relationships on November 17, during the NCOIL Annual Meeting in Las Vegas, Nevada.  The model law, which strives for coverage that would accurately reflect the experience of parties involved, is the culmination of more than two years of NCOIL examination into PEO insurance issues, including extended efforts of an NCOIL PEO Working Group.

Savannah, Georgia, March 6, 2007Members of the National Conference of Insurance Legislators (NCOIL) Workers’ Compensation Insurance Committee on March 1 remitted an amended Model Act Regarding Professional Employer Organizations (PEOs) in Workers’ Compensation Insurance to an NCOIL PEO Working Group, and paved the way for a final vote on the model at the July NCOIL Summer Meeting.  The Committee, which convened during the NCOIL Spring Meeting here, also asked interested parties to submit mark-up comments on the bill by March 30.

Troy, New York, February 7, 2007  After a year of working through complex issues regarding professional employer organization (PEO) practices, members of the National Conference of Insurance Legislators (NCOIL) Workers’ Compensation Insurance Committee will consider an amended Model Act Regarding Professional Employer Organizations (PEOs) in Workers’ Compensation Insurance on March 1, during the March 1 through 4 NCOIL Spring Meeting in Savannah, Georgia.