With NAIC leadership confident that insurance companies are in much better shape than other financial services firms, insurance regulators denied a request from the life insurance industry to relax capital and surplus requirements. The NAIC's Capital and Surplus Relief Working Group, chaired by D.C. Commissioner Tom Hampton, heard comments from industry representatives, consumer groups and other witnesses during a January 27, 2009, public hearing and recommended approval of the changes. But those recommendations were not approved by the NAIC's Executive Committee. While the NAIC believes it unnecessary to recommend emergency, industry-wide changes at this point, current state laws permit insurance regulators to provide relief to insurers on a case-by-case accounting practice basis, and some have already done so.