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NAIC Continues Latest Round of Certification

The National Association of Insurance Commissioners (NAIC) has prepared and distributed a checklist to insurance departments in order to determine their compliance with Gramm-Leach-Bliley (GLB)...
May 4, 2010

The National Association of Insurance Commissioners (NAIC) has prepared and distributed a checklist to insurance departments in order to determine their compliance with Gramm-Leach-Bliley (GLB) reciprocity requirements. States are beginning to send in their responses and we are encouraged to see that most states conform to the federal law.

Jurisdictions are certifying whether they only require certain information from non-resident applicants that is acceptable under GLB or whether they require additional information. If the jurisdiction requires more than what is allowed, then they are asked to explain why and to provide the statutory authority for the extra requirements. PIA National appreciates this process because it helps us identify the places where we still need reform in order to modernize our state regulatory system. We will continue to work with our affiliates to get the proper legislative and/or regulatory changes necessary. The state checklists are posted on the NAIC website here.