Washington--Four former insurance commissioners are expected tovoice support for legislation creating federal standards forinsurance regulation next Thursday at a hearing of a subcommitteeof the House Financial Services Committee.

A notice of the scheduled hearing before the Subcommittee onCapital Markets, Insurance, and Government Sponsored Enterprisessent to all members of the Committee was obtained by The NationalUnderwriter today.

Committee staff officials confirmed the hearing.

Speakers who are expected to attend include Greg Serio, formerNew York commissioner; Lee Covington, former Ohio commissioner; NatShapo, former Illinois commissioner; Mike Pickens, former Arkansascommissioner, sources said. Former Texas insurance commissionerRobert Hunter is also expected to testify, the sources said.

The subcommittee is headed by Rep. Richard Baker, R-La., who hasplayed a key role in drafting the State Modernization andRegulatory Transparency Act (SMART) legislation.

The hearing will be held just after the National Association ofInsurance Commissioners completes its summer meeting in Boston. Theconclave starts full sessions tomorrow.

The House committee has voiced irritation with the NAIC and itsmembers for giving the appearance of being reluctant to give thepanel's staffers input into the SMART legislation, which thecommittee leadership hopes to introduce this summer, beforeCongress holds its normal August recess.

The NAIC has sought to reassure Rep. Baker, Rep. Mike Oxley,R-Ohio, chairman of the full committee and committee staffers thatit will cooperate, although it has made clear it has majorphilosophical and substantive concerns with the bill. In general,the NAIC believes the bill is an unnecessary intrusion into stateinsurance regulation.