Task Force Purpose – The Restatement improperly misstates insurance law and actually creates new legal standards and principles that would seriously impede the business of insurance. Preventing or limiting the Restatement will preclude major harm to insurers and policyholders. The task force shall work to obtain significant revisions to the proposed American Law Institute Restatement of Liability, Insurance and, if revisions are not made, seek through other means to eliminate or significantly diminish the application or use of the Restatement going forward.
General Task Force Value Proposition – Allows NAMIC members to play a major role in determining the direction of advocacy to ensure staff is pursing ALI Restatement solutions that have been developed and advised by the membership.
General Task Force Responsibilities –
The task force shall work through NAMIC staff to do the following:
Engage with the Restatement reporters to educate them on the technical legal errors and misapplication of legal principles contained in the current Restatement draft.
Enlist outside authorities and interest groups to provide broad and objective opposition to the Restatement.
Engage with the senior leadership and general membership of the ALI to educate them on the problems and urge them to revise the Restatement.
Educate state legislators and jurists on the problems with the Restatement and preclude its application at the state level.