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NAIC Market Conduct Subgroup Accepts PIA Suggested Changes

On November 18, 2002, the NAIC subgroup focusing on market conduct examination standards met to consider amendments to the market conduct privacy standards. Prior to...
November 25, 2002

On November 18, 2002, the NAIC subgroup focusing on market conduct examination standards met to consider amendments to the market conduct privacy standards. Prior to this meeting, PIA submitted written comments  requesting that the standards be amended to reflect that carriers cannot dictate independent producers' privacy policies and procedures. Independent producers typically have their own policies and procedures, in part because it could be very difficult to follow the differing procedures of each of their appointed carriers.  The subgroup agreed with PIA's recommendations, incorporating the changes PIA suggested to the standards. 

View the PIA document with our changes

What It Means to Agents:  The changes PIA proposed and were accepted, if approved in final form by the NAIC, will reduce the risk that PIA members will have to spend money complying with multiple privacy policies and procedures.