NAIC President rate of capacity to pay as a top priority
A personal experience with the devastating effects of insurance fraud-North Dakota has catapulted the first Insurance Commissioner Earl Pomeroy R. in cases of regulating the sector.
In 1983, North Dakota Insurance Department license is a company that was discovered later, to activate a fictitious assets of nearly $ 300 million.
“It was a big embarrassment for the State of North Dakota and insurance representative incompetent regulation,” says Pomeroy, at the time, he was a member of the State House of Representatives, under the chairmanship of the Committee on Justice, in case.
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