06/07/2022
Dean Camron of Idaho has it right. The article is locked but here is the relevant portion restated by the NAIC.
At the annual Insurance Europe conference in Prague, National Association of Insurance Commissioners (NAIC) President Dean Cameron, director of the Idaho Insurance Department, was a panelist discussing "regulation on top of regulation," which looked at the current regulatory environment and its impact on the protection gap. NAIC President Cameron said, "We have confusing archaic, duplicative words and regulations that almost compete at times. If we want our products, and our industry, to be more appropriately regulated, it's time to clean [the] house every once in a while." He went on to share that in Idaho, "We cut about 40% of rules and regulations. We did not change one drop of how we regulate the industry." He added, "If we're looking at the use of technology and ways to attract younger people into the industry, we have to look at how we say things and make it so it's easier to follow and understand."
Dean Cameron was speaking at the Insurance Europe conference