Regulation - Insurance - Coordination

  • (p10) - Instead of conducting any analysis of the efficacy of coordinated regulation at the state level, FSOC dismissed it. 

  • (p14) - 5 The NAIC offers this discussion of collaborative action in part as a rebuttal to the Scholars of Insurance Regulation’s claim that state insurance regulators are frequently not able to coordinate effectively among themselves. See Scholars Br. at 17.

2015 0626 - 15-cv-45 - NAIC - Document 43 - Consent Motion of the National Association of Insurance Commissioners for Leave to File Brief as Amicus Curiae in Support of Plaintiff Metlife, Inc. - 32p

  • (p17) - The problem, of course, is that state insurance regulators frequently are not able to coordinate effectively among themselves.

2015 0515 - DOC 34-1?? - 15-cv-45 - Brief of Scholars of Insurance Regulation as Amici Curiae in Support of Defendant Financial Stability Oversight Council - 28p

  • I realized, there was nobody else.
  • There was no one for me to get help on this. This was it.
    • I'm in the room.
      • Geithner's asking.
      • Paulson's listening. 
  • I finally had no one else to ask.
    • I mean, my experts obviously.
  • But it was one of those moments in life where you're like, "Okay, this is it. You're either going to get this right, or you're going to get it wrong.

There's no one else to go and chat with about it...

2021 - YPFS - Lessons Learned Oral History Project: An Interview with Eric Dinallo - 19p

  • (p17) - Baxter: One of the fears was that if things had gone in another direction and AIG had to be wound up, each one of the state commissioners would have had its own proceedings.
    • That was part of what created systemic risk for AIG, where there would be a fragmented series of resolutions and every insolvency official appointed by a commissioner would try and seize AIG assets.

2018 1120 - YPFS - Lessons Learned Oral History Project Interview: Thomas Baxter  ---  [BonkNote]  ---  19p

  • Ed ROYCE - (R-CA)
    • So we have the SEC. We have the Fed. We have the OCC that all serve to get financial instruments to represent the interests of the banking industry in terms of gaining access to markets overseas, and you are speculating that the National Association of Insurance Commissioners is not going to have that same clout or seat at the table in terms of opening those markets for competition?
  • Christopher M. Condron, Chairman of the Board and Chief Executive Officer, AXA Equitable Life Insurance Company, on behalf of the American Council of Life Insurers (ACLI)
    • They just cannot.
    • You know, they cannot agree on what the reserving requirements will be on universal life insurance policies, or when they do agree, they cannot get all of the States to go along, and that is the  frustration, I think, Commissioner Bell and all of the commissioners have always had with the NAIC.  (p163)

2007 1003 - GOV (House) - The Need for Insurance Regulatory Reform - [PDF-163p