US' State-Based Insurance System A-OK: NAIC

Law360, New York (September 1, 2009, 7:02 PM EDT) -- As U.S. lawmakers grapple with the possibility of regulating insurance at the federal level, an association of state insurance commissioners has submitted a report to the International Monetary Fund saying that the current state-based system is consistent with international standards.

The National Association of Insurance Commissioners announced Tuesday that it had joined in with other U.S. financial regulators in completing a self-assessment as part of the international Financial Sector Assessment Program, a joint project between the World Bank and the International Monetary Fund.

In its report,...
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