Two pieces of news provide a flicker of hope amid the doom and gloom.
DES PLAINES, Ill., Jan. 22 -- The Property Casualty Insurers Association of America issued the following news release:
David Sampson, president and CEO of the Property Casualty Insurers Association of America (PCI), today issued the following statement on the National Association of Insurance Commissioners' (NAIC) selection of former U.S. Sen. Ben Nelson (D-Neb.) as the organization's new chief executive officer:
"We are pleased that the NAIC has selected such an extraordinary public servant with deep expertise in insurance, both as a regulator and as a longtime insurance professional. His experience as an insurance company executive, regulator and governor gives him unique qualities, experience and credibility for this position. Senator Nelson has been a proven, successful leader in the private markets, and in the public arena, in building consensus to help consumers. He has a deep understanding of the state-based U.S. regulatory system and how successful it has been in serving insurance consumers. As the NAIC faces complex issues of global and national regulatory convergence, his experience and background will be vital in navigating the landscape. We congratulate Senator Nelson and we look forward to working with him in his new role."
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