NAIC President Questions Motives of OFC Supporters
KANSAS CITY, Mo. (Feb. 15, 2008) — Sandy Praeger, President of the National Association of Insurance Commissioners (NAIC) and Kansas Insurance Commissioner, in a letter yesterday, reiterated the strengths of state-based regulation and reasserted opposition to federal legislation that would establish an optional federal charter (OFC).
A few relevant parts of the letter: Continue reading “The Insurance Industry’s GREAT ESCAPE”