AIA Salutes Arkansas Task Force

The Alliance of American Insurers (AIA) commended the Arkansas Insurance Department for creating a task force to gain input from interested parties on what steps the state should take to modernize insurance regulation in the state. AIA stated it has advocated such an approach, and is pleased that a state has finally taken such a bold first step. Alliance President Rodger S. Lawson, commented that Arkansas Insurance Commissioner Mike Pickens, an officer of the National Association of Insurance Commissioners (NAIC), “sets the bar at a high level. No one can accuse him of not practicing what he preaches, when he encourages his fellow regulators to go this route.” Lawson added that “The Alliance is pleased to hear Commissioner Pickens echo our members’ belief that, in addition to protecting consumers, the goal of state insurance regulation is to facilitate good business practices and economic development while being fair, reasonable and market oriented. Modernized state insurance regulation of speed-to-market, producer licensing, privacy, solvency and market conduct can be efficient, effective and as less burdensome, while still safeguarding the consumer. We look forward to participating fully in the Arkansas Regulatory Modernization Task Force to work toward this common goal.”

Topics Legislation Arkansas