Market Conduct Reform [S]
Insurers continue to pay thousands of dollars each year to state regulators for expenses they incur in performing market conduct examinations on insurance companies. Often, the exams amount to little more than “fishing expeditions” by the regulators and essentially duplicate examinations already completed by other state regulators. NAMIC supports reasonable market conduct reform initiatives that will reduce both the number and cost of market conduct exams and will have regulators focusing their attention on problem insurers. NAMIC opposes any initiatives that would impose additional burdensome market conduct exam requirements on insurers.