For Immediate Release
November 7, 2018
Contact: Paul Penna
(732) 201-4133

NCOIL TO EXAMINE ERISA’s IMPACT ON STATE HEALTH PLANS
Can Meaningful State Reform in an ERISA-Dominated Marketplace Be Achieved?

Manasquan, NJ – Commissioner Tom Considine, NCOIL CEO announced the Health General Session at the 2018 Annual Meeting in Oklahoma City is “Examining the Role of ERISA in the State Based System of Insurance Regulation: Can Meaningful State Reform in an ERISA-dominated marketplace be achieved?” featuring a distinguished group of presenters.

“We continue to strive to discuss insightful topics that educate legislators and participants with policy experts that deeply understand issues” said Considine. “This topic is timely because ERISA seems to pervade NCOIL discussions of policy solutions for a variety of issues.”

The panel includes Professor Jonathan B. Forman, Kenneth E. McAffee Centennial Chair of Law University of Oklahoma College of Law; Professor Elizabeth McCuskey, Co-Director, JD/MD & JD/MPH Joint Degree Programs, University of Toledo College of Law; James Gelfand, Senior Vice President, Health Policy, ERISA Industry Committee (ERIC); and The Honorable Jessica Altman Commissioner, Pennsylvania Department of Insurance, Vice Chair, NAIC Health Insurance and Managed Care (B) Committee.

“When I was in the insurance industry, approximately 40% of the health care market fell under the jurisdiction of state regulation. This shrank to about one-third while I was serving as New Jersey’s Banking & Insurance Commissioner, and now it is at risk of dipping below 30%. This is directly
related to employers of smaller size moving to self-funded ERISA plans,” Considine concluded.

The Health General Session is scheduled for Thursday, December 6th from 11:30 a.m. – 1:00 p.m. at the Renaissance Oklahoma City. Registration is open for the NCOIL Annual Meeting at www.ncoil.org/register-now.

-30-

NCOIL is a national legislative organization with the nation’s 50 states as members, represented principally by legislators
serving on their states’ insurance and financial institutions committees. NCOIL writes Model Laws in insurance and
financial services, works to 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 policymakers 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 longstanding insurance issues.

For Immediate Release
November 1, 2018
Contact: Paul Penna
(732) 201-4133

NCOIL Staff Participates in “No-Shave November” for Third Consecutive Year
Effort Raises Funds & Awareness for Cancer Research

Manasquan, NJ – Commissioner Tom Considine, NCOIL CEO announced today that for the third consecutive year, the organization’s staff will participate in No-Shave November 2018.

“For the past two years the NCOIL staff participated in No-Shave November and it has proven to be an itchy and somewhat unkempt success. As some of you know, I am a cancer survivor and sadly lost my mom to this disease just a couple of months ago. The fight against this cancer has always been personally important, now more than ever” said Considine.

No-Shave November’s mission is to raise funds for cancer research & treatment, and to educate the population about preventive measures. Starting with the surviving children of one father who died of cancer in November 2007, the movement has since spread around the globe. Participants put down their razors each year to join the fight against cancer. NCOIL Support Services has made contributions to the Melanoma Research Foundation, the Prostate Cancer Foundation and the Testicular Cancer Society in support of the men’s health cause, Considine noted, in addition to donating to Making Strides Against Breast Cancer in October.

“No-Shave November raises money for a great cause”, said Executive Director Paul Penna. “While the increase in the amount of gray and white hairs that appears in my beard is alarming, it is for an important purpose.”

“I am pleased to participate in No-Shave November for the third time in as many years” stated Will Melofchik, NCOIL Legislative Director. “Raising funds for cancer research is vital to finding a cure.”

The No-Shave November campaign has successfully raised over millions to combat this disease. Every dollar raised brings us one step closer in our efforts to fund cancer research and education, help prevent the disease, and aid those fighting the battle. Each whisker grown allows us to embrace our hair, which many cancer patients lose during treatment. More information can be found at https://no-shave.org/

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NCOIL is a national legislative organization with the nation’s 50 states as members, represented principally by legislators
serving on their states’ insurance and financial institutions committees. NCOIL writes Model Laws in insurance and
financial services, works to 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 policymakers 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 longstanding insurance issues.

We are pleased to announce that The Institutes Griffith Insurance Education Foundation, in collaboration with the National Council of Insurance Legislators (NCOIL), will present an hour-long webinar primer program on ERISA. Further details and registration information follow.

Webinar Title: Understanding ERISA and Its Impact on Community Pharmacies and Pharmacy Benefit Managers: A Non-Advocative, Non-Partisan Primer Program

Program Description: The Employment Retirement Income Security Act (ERISA) has had a tremendous impact on the state-based system of insurance regulation since it was signed into law in 1974. ERISA matters can arise in various settings, each of which present their own unique set of issues. One such setting that has been garnering recent national attention has been the interaction of ERISA with the business practices of community pharmacies and pharmacy benefit managers (PBMs). This webinar will serve as a primer on how ERISA has evolved throughout the past several decades and why it is of such importance to community pharmacies and PBMs as both the states and the Federal Government wrestle with these complex issues.

Program Date: November 9, 2018

Program Time: 2:00 PM – 3:00 PM EST

Please join us for:

An academic-led overview of ERISA and its interplay with our state-based system of insurance regulation.

Followed by discussion of the impact of this legislation on both community pharmacies and pharmacy benefit managers from experts with different perspectives.

Registrants will be able to submit questions during the webinar to facilitate discussion.

*Pre-registration is required and space is limited, so early registration is encouraged. Please use this link to register: https://griffithfoundationwevents.webex.com/griffithfoundationwevents/onstage/g.php?MTID=e5d940050de65ab44b4f2cbc9fd13ba64

** Please also know that at the 2018 NCOIL Annual Meeting in Oklahoma City, a further discussion on ERISA will take place focused on whether or not it is a roadblock to meaningful state healthcare reforms. You can view the schedule for the Meeting and register by following this link: https://ncoil.org/register-now/

Please do not hesitate to contact the NCOIL National Office should you have any questions.

Best,

TEAM NCOIL

For Immediate Release
October 17, 2018
Contact: Paul Penna
(732) 201-4133

NCOIL CEO APPLUADS FSOC FOR REMOVING PRUDENTIAL’S SIFI DESIGNATION

NCOIL Wrote Treasury Secretary Mnuchin Prior to Meeting Asking for Removal of Designation

Manasquan, NJ – Commissioner Tom Considine, NCOIL CEO applauds the Financial Stability Oversight Committee decision to remove Prudential’s “systematically important financial institution” (SIFI) designation.

“NCOIL believes the SIFI designation has proven to be inherently flawed and antithetical to the proven success of the state-based system of insurance regulation” said Considine. “I applaud Secretary Mnuchin and the Financial Stability Oversight Council for recognizing the primacy of state-based regulation of insurance in this country.”

Earlier this week and in advance of the FSOC Meeting, Considine wrote to Treasury Secretary Steven Mnuchin. A full copy of the letter is below.

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NCOIL is a national legislative organization with the nation’s 50 states as members, represented principally by legislators
serving on their states’ insurance and financial institutions committees. NCOIL writes Model Laws in insurance and
financial services, works to 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 policymakers 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 longstanding insurance issues.

October 15, 2018

The Honorable Steven T. Mnuchin
Secretary
Chairperson – FSOC
U.S. Department of the Treasury
1500 Pennsylvania Ave., NW
Washington, D.C., 20220

Dear Secretary Mnuchin:

On behalf of the National Council of Insurance Legislators (NCOIL), I write in advance of this week’s Financial Stability Oversight Council (FSOC) meeting during which Prudential’s “systematically important financial institution” (SIFI) designation will be discussed. NCOIL strongly believes that
FSOC should remove Prudential’s SIFI designation as such designations have proven to be inherently flawed and antithetical to the proven success of the state-based system of insurance regulation.

NCOIL is a national legislative organization with the nation’s 50 states as members, represented principally by legislators serving on their states’ insurance and financial institutions committees. 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 longstanding insurance issues.

As you know, as part of the overall effort to avoid a repeat of the 2008 financial crisis, Dodd-Frank gave FSOC the ability to designate certain financial institutions, including insurers, as “systematically important.” From the beginning, serious concerns were raised surrounding the SIFI designation process as it relates to insurers since the designation subjected certain insurers to capital and regulatory requirements that were bank-centric and not rooted in an understanding of how the U.S. state-based system of insurance regulation functions pursuant to the McCarran-Ferguson Act.

The U.S. state-based system of insurance regulation has effectively protected consumers and helped create the largest, most competitive and innovative insurance market in the world. Reports have consistently shown that the state-based system of insurance regulation largely protected insurers and their policyholders from the 2008 financial crisis.

Prudential is now the only insurer that carries with it the SIFI designation. Having AIG, GE Capital, and MetLife de-designated is a sign that FSOC and others have realized that monitoring the solvency of insurance companies is best done at the state level by those with a fundamental understanding of the state-based insurance regulatory system and its successful track record. We ask that FSOC continue to follow that trend and remove Prudential’s SIFI designation.

Thank you and please do not hesitate to reach out if you wish to discuss this further.

With appreciation for your consideration, I am,

Very truly yours,
Thomas B. Considine
NCOIL CEO

For Immediate Release
October 1, 2018
Contact: Paul Penna
(732) 201-4133

NCOIL APPLAUDS IMPLEMENTATION OF SECURITY FREEZE PROVISIONS IN DODD-FRANK REFORM LAW
Mirrors NCOIL Models Passed to Protect Minors from Identity Theft and Prohibit Credit Bureaus from Charging Fees Related to Security Freezes

Manasquan, NJ – NCOIL applauds the implementation of security freeze provisions of the Dodd-Frank Reform Law that went into effect last week. The language in the reform law – The Economic Growth, Regulatory Relief, and Consumer Protection Act – is similar to the NCOIL Model Act Prohibiting Consumer Reporting Agencies from Charging Fees Related to Security Freezes, and the NCOIL Credit Report Protection for Minors Model Act, both sponsored by KY Rep. Steve Riggs, NCOIL Immediate Past President.

“The Dodd-Frank Reform Law that includes similar language to the NCOIL models shows that NCOIL continues to make impactful policy that is bipartisan” said Riggs. “I am pleased that language from the models I sponsored now mirrors the federal law which will further the goals of saving consumers money by allowing them to freeze their credit for free to protect their identities, and to permit parents, legal guardians, or other representatives of minors to place a security freeze on the minor’s credit report.”

The NCOIL Model Act Prohibiting Consumer Reporting Agencies from Charging Fees Related to Security Freezes passed the Financial Services Committee at the 2017 Annual Meeting and was affirmed by the Executive Committee. The NCOIL Credit Report Protection for Minors Model Act,
adopted in 2016, was amended during the 2017 Annual Meeting to incorporate the policy of ensuring all security freezes are free for consumers. Full text of the models can be viewed here –
https://ncoil.org/wp-content/uploads/2017/11/security-freeze-model.pdf
and here –
https://ncoil.org/wp-content/uploads/2016/12/Credit-Report-Protection-for-Minors-Model-Act.pdf.

“As NCOIL President, I am proud the Trump Administration included language similar to NCOIL’s bipartisan models” said AR Sen. Jason Rapert, NCOIL President. “It is what NCOIL does best – identifies a problem, discusses potential solutions and creates a model that can be tailored in individual states.”

“While NCOIL remains steadfast in protection of McCarran-Ferguson and state-based regulation of insurance, the incorporation of NCOIL Model language into federal law is something the organization can support” said Commissioner Tom Considine, NCOIL CEO. “But make no mistake, we will never waiver in support of state-based regulation of insurance that has served consumers and companies for nearly 75 years.”

-30-

NCOIL is a national legislative organization with the nation’s 50 states as members, represented principally by legislators
serving on their states’ insurance and financial institutions committees. NCOIL writes Model Laws in insurance and
financial services, works to 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 policymakers 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 longstanding insurance issues.

September 12, 2018

The Honorable Jeb Hensarling                                                                                                                        The Honorable Maxine Waters
Chair                                                                                                                                                                       Ranking Member
House Financial Services Committee                                                                                                              House Financial Services Committee
2129 Rayburn HOB                                                                                                                                             2221 Rayburn HOB
Washington, D.C. 20515                                                                                                                                     Washington, D.C. 20515

Dear Chairman Hensarling and Ranking Member Waters:

On behalf of the National Council of Insurance Legislators (NCOIL), I write in opposition to H.R. 6743, “The Consumer Information Notification Requirement Act” which seeks to establish a federal standard on data security and breach notification for the financial services and insurance industries and would therefore preempt existing relevant state laws.

As you may know, NCOIL is a national legislative organization with the nation’s 50 states as members, represented principally by legislators serving on their states’ insurance and financial institutions committees. 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 longstanding insurance issues.

NCOIL takes the issue of data security and breach notification very seriously. In addition to holding several educational sessions on such topics for our member legislators and interested parties at our national meetings, in November 2017, following the events of the Equifax data breach, we adopted a Model Act Prohibiting Consumer Reporting Agencies from Charging Fees Related to Security Freezes, which prohibits a consumer reporting agency from imposing a fee on a consumer for placing a security freeze, removing a security freeze, temporarily lifting a security freeze, or reinstating a security freeze.

While we commend your Committee’s efforts to ensure there are appropriate safeguards established relating to data security and breach notification, NCOIL believes that states are best qualified to enact and enforce such laws. All fifty states have data security and breach notification laws in place, many of which can be argued have stronger standards than those proposed in H.R. 6743.

If enacted, H.R. 6743 will substantially change the data security and breach notification requirements for the insurance industry, a change that NCOIL believes comes from the wrong authority, and indeed violates the spirit of the McCarran-Ferguson doctrine. If changes to insurer data security and breach notification requirements were to be made, the proven, state-based system of insurance regulation dictates that state insurance legislators – those with a fundamental understanding of their states’ markets and consumers – are best equipped to respond rather than Congress. State insurance legislators continue to work hard to both develop and improve data security and breach notification laws. If enacted, H.R. 6743 would impede upon such efforts which would ultimately harm consumers.

Thank you and please do not hesitate to reach out if you wish to discuss this further.

With appreciation for your consideration, I am,

Very truly yours,

Thomas B. Considine
CEO
NCOIL

cc:

The Honorable Blaine Luetkemeyer
Chair
House Financial Services
Subcommittee on Financial Institutions and Consumer Credit
2230 Rayburn HOB
Washington, D.C. 20515

The Honorable William Lacy Clay
Ranking Member
House Financial Services
Subcommittee on Financial Institutions and Consumer Credit
2428 Rayburn HOB
Washington, D.C. 20515

For Immediate Release
September 11, 2018
Contact: Paul Penna
(732) 201-4133

NCOIL HIGHLIGHTS LIFE INSURANCE AWARENESS MONTH
Urges Greater Coverage to Protect Loved Ones in the Event of Tragedy

Manasquan, NJ – NCOIL highlights September as Life Insurance Awareness Month. This campaign takes place each September to highlight the importance of life insurance and the role it plays in protecting financial security in the event of a family tragedy.

“As legislators, it is our primary responsibility that we work to protect consumers, and it is therefore important that we remind them to have adequate life insurance coverage” said AR Sen. Jason Rapert, NCOIL President. “The passing of a family’s primary wage earner is terrible by itself, and should not lead to household financial insecurity.”

Information and resources about Life Insurance Awareness Month can be found at https://lifehappenspro.org/life-insurance-awareness-month. Life Happens states that more than 95 million Americans have no life insurance and 1 in 3 Americans believe they have less than needed.

“As Life Happens states, too many Americans have no life insurance and even more have less than they need” said Commissioner Tom Considine, NCOIL CEO. “NCOIL is pleased to highlight the need for Americans to assess their financial needs and purchase appropriate life insurance to protect their loved ones.”

###

NCOIL is a national legislative organization with the nation’s 50 states as members, represented principally by legislators
serving on their states’ insurance and financial institutions committees. NCOIL writes Model Laws in insurance and
financial services, works to 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 policymakers 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 longstanding insurance issues.

For Immediate Release
August 29, 2018
Contact: Paul Penna
(732) 201-4133

NCOIL TEAM MEETS WITH FIO DIRECTOR
Discuss Necessity of State Based Regulation of Insurance

Commissioner Tom Considine, NCOIL CEO; and Will Melofchik, NCOIL Legislative Director met with Stephen J. Dreyer, Director of the Federal Insurance Office (FIO) in Washington, D.C.

“It is vital that we interact with the FIO to ensure that the state-based regulation of insurance is protected” said Considine. “This system has protected consumers and ensured solvency for nearly 75 years and there is not reason to change it now.”

They discussed a wide range of issues including ensuring the state-based regulation of insurance is preserved, and invited Dreyer to participate at a future NCOIL meeting.

“We appreciate the dialogue with Director Dreyer” said Considine. “We expressed the need for the FIO to focus on enhancing the state-based system.”

This is the latest in a long list of interaction between NCOIL and federal offices. NCOIL has hosted three DC Educational Fly-Ins to educate members of congress, met with senior congressional leadership and had important agency heads participate at NCOIL meetings.

-30-

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

For Immediate Release
July 30, 2018
Contact: Paul Penna
(732) 201-4133

NCOIL PASSES RESOLUTION IN SUPPORT OF THE SMALL BUSINESS AUDIT
CORRECTION ACT
Sponsored by AR Senator Jason Rapert, NCOIL President

Manasquan, NJ – At the 2018 NCOIL Summer Meeting in Salt Lake City, UT, the NCOIL Financial Services Committee adopted a Resolution sponsored by NCOIL President, AR Sen. Jason Rapert, in Support of the Small Business Audit Correction Act. The Executive Committee affirmed the passage.

The Small Business Audit Correction Act would provide regulatory relief to privately-held, noncustodial investment brokers and dealers by exempting them from stringent audit requirements of the Public Company Accounting Oversight Board, which was created by Sarbanes-Oxley and given additional powers over small brokers by Dodd-Frank. Prior to Sarbanes-Oxley, and as amended by Dodd-Frank, brokers and dealers were required to hire American Institute of CPAs registered auditors who followed General Accepted Accounting Standards when conducting audits. This legislation would reinstate those audit requirements for privately-held, non-custodial brokers and dealers.

“The Small Business Audit Correction Act fixes a costly mistake for small businesses’ that are the lifeblood of our states” said Sen. Rapert. “In this instance, the federal government’s one-size-fits-all regulatory approach inappropriately penalized these privately-held, small, non-custodial brokers and dealers by holding them to the same standards as large firms such as Merrill Lynch. I trust the federal government will hear the message that this overreach will not stand.” Rapert concluded “I applaud the bipartisan leadership of Rep. French Hill, R-AR; Rep. Vicente Gonzalez, D-TX; Sen. Tom Cotton, R-AR; and Sen. Doug Jones, D-AL for addressing this important issue in Congress. This legislation is the kind of common sense solution needed to keep our economy moving forward and remove jobkilling government regulations.”

“By its very name, the Public Company Accounting Oversight Board exists to oversee public entities, not small, private firms” said Commissioner Tom Considine, NCOIL CEO. “This bi-partisan legislation represents sound and reasonable policy that will allow small businesses to deploy their resources on helping local communities rather than on wrongfully applied, expensive, regulations.”

“I was pleased when Senator Rapert brought this issue forth for consideration as it represents part of NCOIL’s continued effort to discuss emerging issues in the banking and financial services sectors for discussion at NCOIL meetings” Considine concluded.

A full copy of the Resolution is below.

NATIONAL COUNCIL OF INSURANCE LEGISLATORS (NCOIL)

RESOLUTION IN SUPPORT OF THE SMALL BUSINESS AUDIT CORRECTION ACT

Adopted by the NCOIL Financial Services Committee on July 13, 2018 and the NCOIL Executive Committee on July 15, 2018
*Sponsored by Senator Jason Rapert (AR)

WHEREAS, many types of financial institutions are in need of regulatory relief, including privately held, small non-custodial brokers and dealers, which are often the gateway to the markets for Main Street businesses; and

WHEREAS, the Public Company Accounting Oversight Board (PCAOB) was established by Congress in the Sarbanes-Oxley Act of 2002 (Sarbanes-Oxley) to oversee the audits of public companies in an effort to protect the investing public; and

WHEREAS, the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) expanded the PCAOB’s oversight to include the annual audits of all brokers and dealers registered with the Securities and Exchange Commission (SEC), regardless of size; and

WHEREAS, prior to Sarbanes-Oxley, and as amended by Dodd-Frank, brokers and dealers were required to hire American Institute of CPAs (AICPA) registered auditors who followed Generally Accepted Accounting Standards (GAAS) when conducting audits; and

WHEREAS, the complex and expensive PCAOB audit requirements and guidelines were appropriately designed for large, public companies because the investing public and markets are potentially at much greater risk from those companies; and

WHEREAS, conversely, the PCAOB audit requirements and guidelines are not suited for small, privately-held firms that do not hold customer assets; and

WHEREAS, this one-size-fits-all PCAOB audit requirement has inhibited the growth and success of small broker-dealer businesses with limited resources; and

WHEREAS, the very name of the PCAOB should limit its oversight to public companies, not privately-held firms; and

WHEREAS, such small, Main Street firms, should be encouraged to focus on providing valuable services to their customers rather than exerting their limited resources on regulations that only provide enhanced consumer protection when applied to large, public companies; and

WHEREAS, H.R. 6021/S. 3004, the “Small Business Audit Correction Act of 2018” would exempt privately-held, small non-custodial brokers and dealers in good standing from the requirement to hire a PCAOB-registered audit firm, and reinstate audit requirements to the former standard for those types of firms which will in turn protect consumers and promote economic growth; and

WHEREAS, this bipartisan legislation is a common-sense step towards easing the regulatory burden on small businesses, a burden so great that many small businesses are struggling to survive; and

WHEREAS, NOW, THEREFORE, BE IT RESOLVED, that NCOIL supports H.R. 6021/S.3004, and urges members of Congress to take action on the proposal to provide significant and much needed relief for small businesses and their customers across the country; and

BE IT FINALLY RESOLVED, that a copy of this Resolution shall be distributed to the members of the U.S. House Financial Services Committee; the members of the Senate Banking Committee; the Speaker and Minority Leader of the U.S. House of Representatives; the Majority Leader and Minority Leader of the United States Senate; and the Chairs of the Committees of jurisdiction in each Legislative Chamber of each State.

-30-

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.

For Immediate Release
July 26, 2018
Contact: Paul Penna
(732) 201-4133

NCOIL APPLAUDS HOUSE BIPARTISAN PASSAGE OF H.R. 4357, URGES SWIFT
SENATE PASSAGE
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

-30-

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.