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2022 All Commissioner Virtual Fly-In

April 27 - 28, 2022

2022 NAIC LEGISLATIVE PRIORITIES

Additional Document Details

Detailed Breakdown on Priorities and Letters to Congress

Oppose Risk Retention Group Expansion

The NAIC opposes legislation that would expand the scope of the Liability Risk Retention Act of 1986 (LRRA) to allow Risk Retention Groups (RRGs) to write commercial property insurance for non-profits. The limited oversight of RRGs due to the LRRA’s preemptive regulatory framework, coupled with the increased risk of RRG insolvencies and that potential danger to the state-run guaranty fund protection, could expose nonprofit organizations and those who rely upon them to unnecessary risks.

Priority Statute

The NAIC supports legislation to help protect policyholders during an insurance receivership.

NFIP Reauthorization

The NAIC supports a long-term reauthorization of the National Flood Insurance Program (NFIP)

FSOC Vote for Insurance Regulators

The NAIC supports the “Primary Regulators of Insurance Vote Act (H.R. 3099)” to provide state insurance regulators a vote on the Financial Stability Oversight Council (FSOC).

NAIC Letter to U.S. House Committee on Financial Services Chairwoman Waters and Ranking Member McHenry Regarding S&P's Proposed Capital Model

Letter to Congress regarding NAIC's perspective on S&P Global’s (S&P) proposal to revise its methodology for assessing insurers’ financial strength, Insurer Risk-Based Capital Adequacy – Methodology and Assumptions.

NAIC Support Letter for Senate Empowering States to Protect Seniors from Bad Actors Act

NAIC support letter for the “Empowering States to Protect Seniors from Bad Actors Act (S. 3529/H.R. 5914).”

Comment Letter to FIO RFI on the Insurance Sector and Climate Related Financial Risks

NAIC letter responding to the Federal Insurance Office's Request for Information (RFI) on the insurance sector and climate-related financial risks