As Governor of Texas, I welcome you all to the National Association of Insurance Commissioners’ Fall 2019 National Meeting in Austin.
With more than $180 billion in premiums written by more than 2,800 licensed insurance companies, Texas ranks as the second largest insurance market in the nation and the seventh largest in the world. The Texas market has grown over 25 percent in the past five years alone, reflecting our strong economy and our impressive job and population growth.
As shifting demographics and new federal and state laws continue to rapidly change for the insurance industry, it is more important than ever for regulatory professionals to strive for clarity and innovation.
Since 1871, NAIC has worked to improve the professionalism and effectiveness of state insurance regulators and commissioners by focusing on fairness and competition. This meeting provides an outstanding opportunity for experts from their respective states and districts to share their experiences and address serious issues together. I commend you all for your commitment to excellence and for your dedication to the people you serve.
To those from out of town, welcome to Austin! From the state Capitol building to great food and world-class live music, there is something for everyone. I encourage all to explore and enjoy everything the city has to offer.
First Lady Cecilia Abbott joins me in extending best wishes for a successful meeting.