NAIC President Highlights Work Embracing the New Normal
On July 7, National Association of Insurance Commissioners (NAIC) President and Missouri Department of Commerce and Insurance Director Chlora Lindley-Myers delivered a keynote speech on the new normal (via recording) at the Taiwan Insurance Institute’s East Asia Pacific Insurance Forum 2023 - Reset to the Future.
Director Lindley-Myers highlighted the NAIC and state supervisors' work on embracing and incorporating new technology into regulation to encourage and improve the economic resiliency of the insurance industry. She highlighted the work state supervisors accomplished during the pandemic on the NAIC's State Ahead strategic work plan, which focused on utilizing technology to create centralized resource hubs for state insurance departments.
Also, Director Lindley-Myers focused on the NAIC’s recently released State Connected strategic work plan, which builds upon State Ahead, stressing the continued importance of innovation in regulation, as well as the need for consumer education outreach and advocacy.
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.