NAIC/Consumer Liaison Committee
NAIC/Consumer Liaison Committee Page
Fall 2009 Meeting Summaries Index

The Consumer Liaison Committee met September 21, 2009.

During this meeting, the Consumer Liaison Committee:

• Received presentations on consumer disclosures which included an explanation of the role of behavioral economics; results of a quantitative survey by the Federal Trade Commission that indicated consumer disclosures may not be necessary nor feasible and could cause more harm than good to consumers; and a recommendation for a 2010 charge for the Consumer Liaison Committee for the development of future best practices that would take a more comprehensive approach toward consumer disclosure that includes consideration of market situations and the use of behavioral economics for insurance regulation.
• Received presentations on insurance scoring. Discussion focused on rate discrimination based on credit scoring and surrogate underwriting.
• Received presentations on the Consumer Financial Protection Agency for additional oversight of credit-related products and for a dedicated consumer advocate. Discussion focused on whether oversight should be federal or state-based since such products are already under federal "truth in lending" requirements.
• Received presentations on health care reform. These presentations focused on the need to consider reform of the entire health care process; not just the insurance aspect of it. Key issues were affordability through state-controlled consumer cooperatives, subsidies and creating incentives for physicians to focus on the quality of care instead of the volume of care.