Regulatory Review MAF Fall 2003 Joe Olson Amerisure Insurance Companies September 24, 2003 THE PARTNERSHIP PROMISE: A PASSION TO EXCEL Agenda • • • • • Federal Regulation NAIC Status National Issues General State Issues Individual State Issues 2 From the Media Dictionary • Bigotry: The open expression of conservative opinions • Inappropriate: True, but unmentionable for political reasons • Spew, Spout: To speak in a way that is inappropriate. A style of speech favored by bigots (see above) 3 From the Media Dictionary (cont) • Judiciary: A body of citizens charged with making those laws that Congress has omitted to make • Tax cut for the rich: Tax cut • Warmonger: A person who wishes ill to his country’s enemies • Media: A program of indoor relief for unemployable intellectuals 4 NAIC and Regulation • Federal Regulation: Who will Regulate the Business of Insurance? • Mired in Limbo: The NAIC 5 National Issues • • • • • Terrorism Asbestos Class Actions Privacy Corporate Governance 6 General State Issues • Credit Scoring • Regulatory Modernization • Budgets 7 Specific State Issues • • • • • • Illinois Indiana Michigan Minnesota Ohio Wisconsin 8