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NAIC Launches Foundation
The National Association of Insurance Commissioners (NAIC) announces the creation of the NAIC Foundation to help individuals obtain skills relevant to the regulation and business of insurance. Scholarships will be awarded to students to fund college education, internships, and apprenticeships.
The NAIC Foundation stands for New Avenues in Insurance Careers and will provide financial support to enable students to pursue a fulfilling insurance career either in government or the insurance industry.
“Our goal is to create opportunities for future regulatory insurance professionals,” said NAIC President and Director of the Idaho Department of Insurance Dean L. Cameron. “The NAIC is leading the way in showing how the public sector can help students of all races, genders, and ethnicities launch meaningful careers.”
The new Foundation will be set up as a Missouri non-profit entity led by a governing body of past NAIC members and leaders. NAIC Past President and South Carolina Director Ray Farmer, NAIC Past President and former Kentucky Commissioner George Nichols III, and former NAIC CEO, NAIC Past President, and Iowa Commissioner Therese Vaughan have agreed to serve as inaugural officers. The NAIC anticipates it will complete the formation of the foundation and start providing scholarships this year. The NAIC is committing initial funding to get the new Foundation up and running.
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.