Thursday, June 06, 2013

LICERA (Large Insurance Company Expense Relief Act) out of Committee

Well, technically it's the "National Association of Registered Agents and Brokers Reform Act (of 2013)," but as we noted a few short months ago, its stated purpose and it's actual 'raison d'etre' are quite different.

According to the folks in Capital City, the legislation "before you today represents over a decade worth of effort and ... will finally achieve the goals ... that ensures that regulators can continue to protect consumers"

Lofty words.

Now let's run them through the Capital City Sunshine Removal Filter:

"The NARAB would not only duplicate many (most?) of the functions of the existing NIPR, but it would afford these large carriers a welcome break in their cost of doing business ...  it's industry-funded, which means a non-trivial portion will be borne by smaller, regional carriers to subsidize their larger competitors"

Doesn't have quite the same ring, though, does it?

On the other hand, it does have the value of being, you know, accurate.
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