For Immediate Release
July 26, 2018
Contact: Paul Penna
NCOIL APPLAUDS HOUSE BIPARTISAN PASSAGE OF H.R. 4357, URGES SWIFT
Provides Greater Oversight and Transparency on International Insurance Standards
Manasquan, NJ – NCOIL CEO Commissioner Tom Considine applauded passage of H.R. 4537 by the full House of Representatives and urged the Senate to do the same and send the legislation to the President.
“NCOIL believes this legislation is necessary to provide greater oversight and transparency on international insurance standards and preserve the state-based system of insurance regulation that has thrived for nearly seventy-five years. NCOIL legislators shared their support of this legislation while we visited with our federal counterparts in June. The Senate needs to swiftly pass this legislation and send it to the President.”
Earlier this year, for the third time in as many years, NCOIL legislators participated in a DC Educational Fly-In with Members of Congress and their staff to protect the state-based system of insurance regulation.
Full information about H.R. 4537 can be viewed here – https://www.congress.gov/bill/115th-congress/house-bill/4537/text
NCOIL is a legislative organization comprised principally of legislators serving on state insurance and financial institutions
committees around the nation. NCOIL writes Model Laws in insurance and financial services, works to both preserve the
state jurisdiction over insurance as established by the McCarran-Ferguson Act seventy years ago and to serve as an
educational forum for public policy makers and interested parties. Founded in 1969, NCOIL works to assert the
prerogative of legislators in making state policy when it comes to insurance and educate state legislators on current and
perennial insurance issues.