Director Lindley-Myers Testifies on Behalf of NAIC at U.S. House Subcommittee Hearing
Today, Missouri Department of Commerce and Insurance Director and National Association of Insurance Commissioners (NAIC) President-Elect Chlora Lindley-Myers represented NAIC members by testifying before the U.S. House of Representatives’ Financial Services Subcommittee on Diversity and Inclusion. The subcommittee met for a hearing titled “A Review of Diversity and Inclusion at America’s Largest Insurance Companies.”
“State insurance regulators appreciate the subcommittee’s attention to measuring diversity and inclusion in the insurance sector. We are encouraged by the unprecedented discussions that have taken place to date between our members and stakeholders on race and diversity issues, and our work will continue,” testified Director Lindley-Myers.
In response to 2020’s call to action on race and inequality issues, the NAIC created its Special Committee on Race and Insurance, which Director Lindley-Myers co-chairs, to drive coordination, collaboration, and progress. Others throughout the insurance sector have emulated this action.
On September 13, 2022, the Committee’s Workstream One released for public comment several recommended actions that state regulators and the industry could take to help increase diversity, opportunity, and representation in insurance.
Along with Workstream One’s recommended actions and other NAIC work Director Lindley-Myers shared with the subcommittee, she also noted the founding of the New Avenues in Insurance Careers (NAIC) Foundation. As it looks toward the future of state insurance regulation and the industry, the Foundation will award scholarships to students to fund college education, internships, and apprenticeships, with a particular focus on students from underserved and diverse communities.
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About the National Association of Insurance Commissioners
As part of our state-based system of insurance regulation in the United States, the National Association of Insurance Commissioners (NAIC) provides expertise, data, and analysis for insurance commissioners to effectively regulate the industry and protect consumers. The U.S. standard-setting organization is governed by the chief insurance regulators from the 50 states, the District of Columbia and five U.S. territories. Through the NAIC, state insurance regulators establish standards and best practices, conduct peer reviews, and coordinate regulatory oversight. NAIC staff supports these efforts and represents the collective views of state regulators domestically and internationally.