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PIA to Participate in NAIC Meetings This Week

The National Association of Insurance Commissioners (NAIC) will meet later this week in Indianapolis to discuss several issues of great importance to independent insurance agents...
August 20, 2013

The National Association of Insurance Commissioners (NAIC) will meet later this week in Indianapolis to discuss several issues of great importance to independent insurance agents. PIA National President Andrew C. Harris and Assistant Vice President for Regulatory Affairs David Eppstein will attend the meetings to advocate on behalf of PIA members.

The Producer Licensing Task Force, chaired by commissioner Roger Sevigny (NH), will continue to discuss the role of health insurance navigators. PIA National filed comments to the committee praising states that have enacted legislation to regulate navigators and urging states that haven’t to do so soon.

The National Insurance Producer Registry (NIPR) Board of Directors will meet on Friday, August 23. PIA has a seat on the board along with other industry and regulator representatives. NIPR recently announced that producers can now utilize NIPR for all of their non-resident licensing needs in all 50 states. NIPR Board President Roger Sevigny, the commissioner of insurance from New Hampshire, will lead the continuation of a discussion on ways to make producer licensing even more efficient.

The Interstate Insurance Product Regulation Commission (IIPRC) will meet on Friday. PIA supports this interstate compact because it is a way for states to get together and provide uniformity and efficiency without federal government interference. Since meeting its operational threshold in May 2006, the IIPRC now has 43 Member States representing approximately two-thirds of the premium volume nationwide. This is a tremendous achievement in a relatively short period of time and we congratulate Karen Schutter, the executive director, for her leadership.

The NAIC Auto Insurance Study Group will meet to discuss ways to improve the availability and affordability of auto insurance. During their meeting, regulators from various states will present data on the numbers of uninsured and underinsured drives.

The NAIC Consumer Liaison Committee is scheduled to discuss the Affordable Care Act(ACA) and lessons from Medicare Part D and the Children’s Health Insurance Program, as well as educating the uninsured about the new Health Insurance Marketplaces. The NAIC Terrorism Risk Insurance Implementation Working Group will meet to discuss the reauthorization of the federal Terrorism Risk Insurance Act (TRIA). PIA, along with most of the P&C industry, supports reauthorization of TRIA.

Regulators will also discuss producer licensing uniformity and reciprocity. PIA has long supported state based solutions to reaching our uniformity and reciprocity goals. We believe we can achieve this if all jurisdictions adopt the Producer Licensing Model Act (PLMA) and fully utilize the NIPR. The Catastrophe Insurance Working Group will discuss updates regarding catastrophe-related legislation and the NFIP. They will also receive a presentation regarding catastrophe savings accounts and discuss the creation of standard catastrophe reporting forms.