It is not a good sign when our regulators communicate by letter. Friday’s Post Dispatch story underscores the friction that exists among some of the regulatory agencies caught in the NPS fiasco.
In one aspect, the letter is intended to demonstrate that the Missouri Attorney General’s Office is dependent upon the State Board of Embalmers and Funeral Directors and the Missouri Department of Insurance to refer matters for investigation. However, the letter also demonstrates the defensive posture being taken by the regulators as they prepare for the worst.
The article also underscores the inconsistent information being provided by regulators. While the Post Dispatch indicates that NPS has a billion dollars of outstanding preneed contracts, regulators have not been willing to confirm the preneed liability or the amount of assets under their control.
With this Fall’s elections, the posturing is understandable. But, let’s hope that the Missouri Attorney General has initiated discussions with the US Attorneys Office about the pursuit of the Cassitys’ "suspect business practices".