The new CEO of the National Association of Insurance Commissioners (NAIC), Dr. Therese M. Vaughan, comments on congressional regulatory reform efforts and her priorities during an exclusive video interview she taped for the PIA Federal Legislative Summit (FLS). The interview, conducted by PIA National Executive Vice President & CEO Leonard C. Brevik, will debut on Thursday, April 2, during the FLS kickoff breakfast.

Here’s a preview: Vaughan said that Congress is looking for solutions and “is tired of hearing people say they want an optional federal charter, [and] they’re tired of hearing supporters of state-based systems say ‘don’t do anything, the system is fine just the way it is.’” She says improvements still need to be made to the state-based system. “I think if we look 3-5 years from now, we will see some changes in the relationship among the states, and I go back to the Interstate Compact … I think that’s an example of the kind of thing that can be done to make this a more effective national system and deal with some of the inefficiencies we have.”

Vaughan also noted that the state system of insurance regulation “is not just a state-based system, this is a national state-based system.” She also revealed that the NAIC is forming the Center for Insurance Policy and Research, a place to allow policymakers in Washington, D.C. to access the NAIC and its insurance information more easily.

Be sure to visit PIANET next week for a complete report on Terri Vaughan’s comments, along with a link to the full video interview.

March 31, 2009