The Regulatory Affairs Committee (RAC) of the PIA National Board of Directors reviewed the most recent NAIC draft premium pass-through account model bill and discussed a background paper drafted by PIA staff to educate producers about their existing fiduciary responsibilities.  The Committee instructed PIA staff to continue to monitor NAIC’s development of the draft model to ensure that any requirements do not overburden producers, and to insure consistency across state lines.

The NAIC is considering a draft criminal background check model. Accordingly, RAC reviewed and reaffirmed PIA’s current policy on criminal background checks that was adopted by the PIA board in September 2001. RAC instructed staff to refer to the PIA policy when submitting comments to NAIC regarding its fingerprint-based background check initiative.

Given that many state legislatures have been meeting since the first of the year, RAC discussed various legislative initiatives pending before state legislatures, such as those on insurance scoring and CLUE.

Questions or comments about RAC’s activities may be addressed to PIA National staff liaison Ellen Sanders at ellens@pianet.org or 703-518-1363.