On behalf of the National Association of Insurance Commissioners, we appreciate your leadership in considering legislation aimed at enhancing certain aspects of our financial regulatory system. As financial markets continue to evolve, we understand that it is important to periodically reassess laws to ensure that they are achieving their intended purpose, are appropriate for the business model they impact, and remain in the best interests of the consumers they are meant to protect. There are a number of bills being considered in the upcoming mark-up which include critical provisions for state insurance regulators that we believe will protect insurance consumers and help reduce systemic risk in our financial system.