National Insurance Modernization Act Bill Introduction in the Works | SYS-CON CANADA
Melissa Bean, D-Ill. announced that she and Rep. Ed Royce, R-Calif., will co-sponsor the National Insurance Modernization Act (NIMA) in the next several weeks. Bean made the announcement March 4, in Washington, DC at the 2009 Insurance Reform Summit presented by Networks Financial Institute at Indiana State University. Previously referred to as the National Insurance Act in the 109th and 110th Congress, Bean said that the bill is undergoing fine-tuning as sponsors finalize discussion on key elements such as consumer access, uniformity and whether a federal charter would be optional or mandatory for insurers deemed systemically significant.
