Minn. Administrative Law Judge Says State Insurance Regulator Exceeded Authority
Administrative Law Judge
"We are pleased that Administrative Law Judge
"PCI argued that laws cited by the department for authority--general powers and subpoena powers--do not authorize collection and publication of board and vendor diversity statistics. Absent legal authority, a commissioner may not take any action and as
"This successful challenge demonstrates that the industry can access the courts for protection from overreaching regulation that is not grounded in the law.
"Expanding diversity in industry jobs and on boards is essential for meeting the needs of insurers' diverse customer base. Many insurers have been acknowledged as leaders in workforce and supplier diversity by the media, associations and organizations, as well as the
"Regulatory overreach, which has been increasingly frequent at the state, federal and international levels, is not limited to any one issue, regulatory action or jurisdiction. While we often support the outcomes that regulators are trying to reach, such as diversity, we are concerned that many insurance regulators are over-stepping their legal authority and placing an unnecessary burden on industry.
"Some of the areas were we have seen regulators seek to implement new rules and requirements include post-storm claims handling such as with Hurricane Sandy and Irene regulations. There have been efforts to advance a climate change agenda through
"Over-regulation undermines an agency's valid consumer protection purpose and unnecessarily increases costs for consumers."
PCI promotes and protects the viability of a competitive private insurance market for the benefit of consumers and insurers. PCI is composed of nearly 1,000 member companies, representing the broadest cross section of insurers of any national trade association. PCI members write
[Category: Insurance]
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