Wednesday, January 23, 2013

Breaking News: New NAIC CEO Nelson: 'No Need for Dual Regulation'

Insurance Journal Breaking News
January 23, 2013

Breaking News Alert

New NAIC CEO Nelson: 'No Need for Dual Regulation'

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The new CEO of the National Association of Insurance Commissioners (NAIC) says there is a limited role for the federal government in insurance in partnership with state regulators but there is "no need for dual regulation."

Ben Nelson, former U.S. senator from Nebraska and a former two-term governor and insurance commissioner in his state, presented himself as a staunch advocate for state insurance regulation and promised to work at improving the state-based system rather than replacing it on a conference call today, one day after his appointment was announced.

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