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NAIC Holds Fall National Meeting

The National Association of Insurance Commissioners (NAIC) held its fall national meeting from September 21-24 and covered a wide range of critical issues affecting producers,...
September 29, 2009

The National Association of Insurance Commissioners (NAIC) held its fall national meeting from September 21-24 and covered a wide range of critical issues affecting producers, including licensing, federal regulation, health insurance and managed care, and natural disaster preparedness.

PIA National regulatory affairs staff attended the meetings and participated in the discussions. In advance of these meetings, on Thursday, September 17, PIA National public policy staff received a private briefing with CEO Therese M. Vaughan, at her invitation.

Commissioners invited their state legislators to attend, and a large number of legislators accepted the invitation. Nearly 50 state legislators from 30 states attended the meetings. Two sessions were held on Monday, September 21, for state regulators and legislators. A discussion forum was largely dominated by the NAIC's draft National Insurance Supervisory Commission (NISC) proposal. The legislators expressed many concerns regarding the proposal, including the lack of participation by state legislators. The legislators and regulators agreed to convene a summit so they could further discuss ways they can improve insurance regulation and keep it state-based.

What It Means to Agents:  For many years, PIA has urged state regulators and state legislators to work more closely together to defend state regulation from further federal intervention. The participation of nearly 50 state legislators from 30 states at this meeting is a major accomplishment that bodes well for the future. We believe this is a direct result of the excellent leadership of new NAIC CEO Dr. Therese M. Vaughan.