| In co-dependence denial the greatest ignorance is to reject substantive matter out of hand, yet insurance policyholders do it as preset course, unaware of their vulnerability till often too late.
The question is when will the 99% change course? The answer is when they are good and ready. |
Comparison of NAIC Model Regulations
Both the N.A.I.C Unfair Claims Settlement Practices Model Regulation (previous model) and the NAIC Unfair Property/Casualty Claims Settlement Practices Model Regulation (current model), property sections, were reprinted by permission of the National Association of Insurance Commissioners. The two are included for reference so policyholders are aware of the rules' changes.
Full article in the book, "Policy Ensurance"
National Association of Insurance Commissioners: The N.A.I.C. coordinates and standardizes the activities of the various states. Its chief purpose is "to protect interests of policyholders." It is also the N.A.I.C. 's function to ensure adequate regulation of the insurance industry. It was formed as part of the legislative changes brought about by the McCarran Act in 1945. The McCarran Act was brought about as a result of the 1942 case, United States v. South-Eastern Underwriters Association, in which the federal government contended that insurance companies were in violation of the Sherman Antitrust Act, and in 1944, the U.S. Supreme Court agreed.
The National Association of Insurance Commissioners proposed a series of rules that allowed insurance companies to remain exempt from the Sherman Antitrust Act on the condition that each state maintain regulatory standards, as it still exists today. Nevada Senator McCarran introduced this legislation which was also known as Public Law 15 and is part of Title 15, Commerce and Trade Code. This enacted law ensconced insurance companies and makes them exempt from the Sherman Antitrust Act , the Clayton Act and the Federal Trade Commission Act (federal anti-monopoly laws).
Because so many controls were swept aside in favor of state regulatory control it is paramount that each Insurance Commissioner is a true champion for policyholder interests and that laissez-faire policy is not the order of the day. Policyholders know very little about the commissioner selection process.
The N.A.I.C. Unfair Claims Settlement Model Regulation was replaced by the NAIC Unfair Property/Casualty Claims Settlement Practices Model Regulation; property sections of both can be found here for reference and comparison. The National Association of Insurance Commissioners holds meetings at least twice each year, its offices are located at 2301 Mc Gee, Ste. 800, Kansas City, MO 64108, telephone (816) 842-3600.
