Further developments regarding Poolman
Insurance policy changes sought
By Dale Wetzel, Associated Press
BISMARCK – Consumer spokesmen want a national group of insurance regulators to toughen its conflict-of-interest policies, in part because of questions raised by last month’s resignation of former North Dakota Insurance Commissioner Jim Poolman.
Poolman’s departure is the latest instance of a top regulator leaving to work for the insurance industry, the representatives said in a letter to the National Association of Insurance Commissioners’ executive committee. Poolman is a former vice president of the association, which is based in Kansas City, Mo.
One of letter’s signers, Don Morrison, of Bismarck, said the issue was being discussed at an association meeting in Washington, D.C., on Saturday.
“This problem of close ties (between state insurance regulators and industry) is more the norm than the exception. It’s been going on for some time,” Morrison said Saturday. “That does not instill confidence that insurance regulators are working for the public interest.”
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