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150 Anniversary

The National Association of Insurance Commissioners (NAIC) to Celebrate 150th Anniversary

Organization Marks Important Historical Milestone and Highlights Value of State-based Regulatory System

WASHINGTON D.C. (January 14, 2021) In 2021, the National Association of Insurance Commissioners (NAIC) will celebrate its 150th anniversary. Since 1871, the NAIC has worked together with state insurance commissioners to effectively regulate the industry and protect consumers while developing and streamlining processes to make the United States insurance market one of the strongest and most resilient in the world.

To mark this important milestone, the NAIC has several communications programs planned, as well as celebrations as part of its National Meetings.  The NAIC has launched a timeline that highlights key historical moments, including developing model bills for life insurance in 1906; adopting the Unfair Trade Practices Act in 1947; and responding to COVID-19 in 2020 to name a few. As part of its commitment to educating consumers, the NAIC will share 150 insurance tips over 365 days and will also be featuring historical photos and trivia on social media on #ThrowbackThursdays. Later this year, the organization plans to launch a new logo and brand identity.

The NAIC began in May 1871, when the insurance commissioners of 18 states met in New York to create a way to facilitate the regulation of insurance between states. For a century and a half, the organization has been protecting consumers and ensuring the stability of the industry, working with states to oversee how insurance is priced, sold and administered. Today, the NAIC is addressing important long-term issues including climate change and emerging risks, big data and artificial intelligence, and race and diversity in insurance.

“Created in 1871, the NAIC has survived wars, two global pandemics, the Great Depression, the Great Recession, numerous natural disasters and countless other challenges. Our strength comes from our members who come from diverse backgrounds and all share the same commitment to protect consumers and ensure fair, competitive markets,” said Mike Consedine, CEO of NAIC. “We are proud of our past, and excited to evolve and grow the organization addressing emerging risks and continuing to strengthen the state-based insurance regulatory system as we adapt to a changing world.”

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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