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NAIC Releases Request for Proposal for Legal Consultant to Research New Regulatory Framework

NAIC Releases Request for Proposal for Legal Consultant to Research New Regulatory Framework

KANSAS CITY, Mo. (July 8, 2020) — The National Association of Insurance Commissioners (NAIC) has released a request for proposal (RFP) to retain a legal consultant to research and report on existing state laws and regulations that could support a new regulatory framework authorizing insurers to separate policies from one another. This request for proposal is being conducted as part of the efforts by the NAIC’s Long-Term Care Insurance (EX) Task Force to develop a consistent national approach for reviewing long-term insurance rates that results in actuarially appropriate increases granted by states in a timely manner.

Additional information about this project is contained in the RFP's scope of work. The RFP is available on the NAIC’s website at www.naic.org. Responses to the RFP are due to the NAIC no later than August 7, 2020, with vendor selection expected to be made by October 2020.

RFP #2065 – Long-Term Care Insurance Legal Restructuring

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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