BestWeek: NAIC Meeting Dominated by Federal Issues

For a states-centric organization, the summer meeting of the National Association of Insurance Commissioners demonstrated just how much the federal government has been seeping into the regulation of insurance, according to a story in this week’s BestWeek U.S./Canada.

The recent meeting in Seattle was dominated by the D.C.’s agenda items ???‚?? federal agencies breathing some of the NAIC’s quasi-governmental air. Just a few of the topics included the federal Insurance Office, federally coordinated health exchanges and federally mandated medical-loss ratios. Read the exclusive coverage of this year’s summer NAIC Meeting in BestWeek U.S./Canada.

And in BestWeek Europe, as the U.K. insurance sector readies itself, amid some uncertainty, for the coming of Solvency II at the end of 2012, the providers of bulk annuities are warily scanning the European horizon.

Also in BestWeek U.S./Canada, it’s far from the only service that Fiesta Auto Insurance Co. provides. Yet John Rost, founder and president of the growing full service agency business, considers the particular practice to be in the best interest of drivers everywhere. He’s referring to writing auto insurance policies for illegal immigrants, despite their inability to legally obtain a state-issued driver’s license beforehand.

BestWeek is published by A.M. Best Co. for insurance professionals. To subscribe, visit http://www.ambest.com/sales/BestWeek.

Founded in 1899, A.M. Best Co. is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers. For more information, visit www.ambest.com.