Filed Under:Markets, Affluent

Nelson sticks to NAIC preservation of state system

Nelson to attend to domestic matters, says state system will work in partnership with FIO, Feds

(AP photo/Harry Hamburg)
(AP photo/Harry Hamburg)

Former Nebraska governor and senator Ben Nelson echoed the sentiments of the NAIC leadership in his first public press conference as new CEO of the organization by casting the desired  relationship with the federal government as one of a “partnership,” not one allowing incursion, pre-emption or even dual regulation.

Nelson, a moderate, plains-state Democrat flanked by NAIC president-elect Adam Hamm, commissioner of North Dakota’s insurance department; Michael Consedine commissioner of the Pennsylvania Insurance Department, and Commissioner William White of Washington, D.C., stuck to the script of state regulatory authority and ability to keep insurers solvent and customers covered in the face of a new set of challenges from the Federal Insurance Office (FIO) and the federal government.  

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Nichole Morford

Nichole Morford
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