Political Quotes

“Madam President, I also ask unanimous consent to have printed in the Record a letter dated April 30 from the National Association of Insurance Commissioners. There being no objection, the material was ordered to be printed in the Record, as follows: National Association of Insurance Commissioners, The Center for Insurance Policy and Research, Washington, DC, Apr. 30, 2010. Hon. Christopher Dodd Russell Senate Office Building, Washington, DC. Dear Senator Dodd: We are writing to convey the support of the National Association of Insurance Commissioners (NAIC) for efforts to preserve state regulatory authority over indexed annuities inherent in S. 1389, the Fixed Indexed Annuities and Insurance Products Classification Act of 2009. This legislation, which would nullify the Securities and Exchange Commission's (SEC) Rule 151A and clarify the scope of the exemption for annuities and insurance contracts from federal regulation, will help ensure that consumers continue to benefit from the vital consumer protections provided by state insurance regulators. The NAIC represents the chief insurance regulators from the 50 states, the District of Columbia, and five U.S. territories, whose primary objectives are to protect consumers and promote healthy insurance markets.…”