Posted: 1/17/2011
Rate Modernization [S]
Our Position
NAMIC’s top state priority remains the “modernization” of state rating and filing laws. NAMIC supports legislation that would eliminate the approval process for pricing insurance products. Insurers must have the responsibility and opportunity to price their products based on their own market research and strategic plans. Combined with market pricing, regulators also need to eliminate burdensome and unproductive form approval processes that impede delivery of products to consumers.