NAIC Help Sought On Class Suits

Wednesday, March 27th, 2002 Legislation & Regulation Litigation

Insurance trade groups are asking the National Association of Insurance Commissioners to help with their effort to counter the growing number of class-action suits. During the NAIC spring meeting here, commissioners were asked to establish a mechanism that would facilitate the NAIC's filing of amicus court briefs in cases that involved insurance issues. The growth in class-action cases, according to David Snyder, assistant general counsel with the American Insurance Association, Washington, is undercutting the predictability of the insurance business. Moreover, according to Mr. Snyder, it is important for state regulators to protect state regulation from the effects of class-action litigation.

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