For more information, please visit our Resource Center.
State Insurance Commissioners Meet to Discuss Insurance Issues
NAIC members focus on protecting consumers, providing access, and organizational strategy
The National Association of Insurance Commissioners (NAIC) members met this past week to begin charting the work of its various committees. The Commissioners also addressed the NAIC’s internal strategic plan which is being updated to improve efficiency and strengthen the organization.
One of the key priorities and topics of discussion was the launch of the newly formed “H” committee, which will focus on Data, Innovation and Cybersecurity. The committee will grapple with how to appropriately use technology and innovation while protecting consumers from unfair practices and cyber breaches.
Other important issues discussed included long-term care insurance, making insurance more accessible to consumers, and international standard setting.
NAIC members also discussed governance issues regarding task forces and working groups and heard a presentation on the need to review and proactively address outdated, unneeded, and conflicting regulations.
“The thoughtful, collaborative, and deliberative comments shared helped us to outline the issues in 2022 and set the table for meaningful and obtainable solutions. I am proud that our state regulators always put the consumer first,” said Dean L. Cameron, NAIC President and Idaho Insurance Director.
Besides the organizational, strategic, and informational components of the meeting, NAIC members also recognized Superintendent Eric Cioppa from Maine, who had recently announced his upcoming retirement. Superintendent Cioppa was recognized for his many contributions, including his service as NAIC President, and especially for his mentorship and incredible expertise. He was also noted for his passionate advocacy of our state-based system both domestically and internationally. Superintendent Cioppa currently serves as the NAIC representative on the Federal Solvency Oversight Council, where he is the NAIC’s voice in protecting consumers and advocating state-based approaches for the insurance sector.
For more information on the NAIC and its 2022 regulatory priorities, please visit the NAIC website.
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.