Posted: 8/19/2010
Consumer Connections Working Group Moves Forward on Readability
The Consumer Connections Working Group met Saturday morning to further discuss its insurance policy readability project. During a conference call in May, the working group voted to recommend to the NAIC that the existing model laws on policy simplification should be revised, with an eye toward beefing up readability requirements. On Saturday, members of the working group determined that their parent, the Market Regulation and Consumer Affairs (D) Committee, would need to approve that recommendation and that the relevant model laws would then need to be dealt with by the appropriate committees: Life Insurance (A) Committee; Health Insurance (B) Committee; and Property & Casualty Insurance (C) Committee.