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NAIC Pushes Uniform Insurer Monitoring System

Law360 (March 17, 2009, 12:00 AM EDT) -- As the insurance industry faces growing pressure to improve regulation, the National Association of Insurance Commissioners is looking to institute a uniform process to monitor how insurers operate, the group announced Monday.

The venture, called the Market Regulation Accreditation Program, would establish standards for assessing whether states are effectively addressing insurance market regulatory issues, the group said.

“We want to see market regulation held on par with financial regulation,” said Oklahoma Insurance Commissioner Kim Holland, who heads the NAIC's Market Regulation and Consumer Affairs Committee. “This...
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