The National Association of Insurance Commissioners (NAIC) is being asked to explain the legal reasoning behind its decision to describe itself as a "standard-setting organization" rather than a trade group.
A senior member of the House Financial Services Committee made the request in a letter obtained by National Underwriter that was sent to the NAIC today.
The NAIC was not available for comment but is expected to reply as the NAIC, not as individuals, according to a source.
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