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NAIC Announces Special Session on Race and Diversity in the Insurance Sector as Part of Virtual Summer National Meeting

NAIC Announces Special Session on Race and Diversity in the Insurance Sector as Part of Virtual Summer Meeting: Registration Now Open

WASHINGTON (June 26, 2020) - The National Association of Insurance Commissioners announced today that registration is now open for the NAIC Summer 2020 National Meeting, which will be held in a virtual format over a three-week period beginning the week of July 27 and ending the week of August 10. Registration is available online here.

In addition, NAIC President and Director of the South Carolina Department of Insurance Ray Farmer announced a special session on race and diversity in the insurance sector.

“As leaders, we need to have meaningful conversations about how to stop discriminatory practices against Black people and other people of color in the insurance industry and in insurance products. It is our duty as regulators to ensure a diverse, inclusive and equitable industry for all consumers,” Farmer said.

The meeting will feature three special sessions, including the aforementioned session on race and diversity:

  • Race & Insurance. During this session, several panels will publicly kick off a member-led effort to critically examine the role of the NAIC and state insurance regulators in addressing ongoing, potential racially discriminatory practices in insurance products. The session will also discuss ways to collaboratively promote diversity and inclusion within the insurance sector.  This panel will operate primarily as a listening session designed to help inform further targeted NAIC activity.
  • COVID-19: Lessons Learned. This session will consist of three panel discussions: Insurance Regulator Perspective, Impact on the Marketplace, and The Road Ahead. The discussions will offer a snapshot of how COVID-19 has impacted the insurance sector and provide a proactive look at the road ahead.  
  • Hurricane Preparedness. The Center for Insurance Policy Research (CIPR) will host a special session where experts will speak about hurricane science and how it translates to operational effectiveness and hurricane resilience. FEMA will participate to share how its 2020 disaster response may be different than in previous years. Other speakers will include Ken Graham, Director of the National Hurricane Center, and Leslie Chapman-Henderson, CEO of the Federal Alliance for Safe Homes.

The reduced registration fee for the Summer National Meeting is $495 and includes access to all public sessions as well as a series of special sessions utilizing enhanced, interactive virtual meeting technology. 

A schedule with specific dates and times will be available on naic.org no later than July 8.

About the NAIC

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. For more information, visit www.naic.org.

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