It seems as if 2021 is flying by! We set our priorities for the year and finished up Commissioners Kick-Off. Here is some of what we've been working on as we commit to our top priorities.
Action Needed: Year-End COVID-19 Report and PIO Survey
You should have received an email after the January PIO phone call that contained the year-end COVID-19 Report. If you have not already done so, please review the report to verify your state's information. You can view the report here. Send any corrections to firstname.lastname@example.org.
We would like to boost PIO participation in our monthly calls. Please help us do that by taking our quick PIO survey here. It will only take 1-2 minutes and will help us provide you with important information on our upcoming calls. Thank you, we appreciate your help!
The NAIC Shares Internal Diversity, Equity, and Inclusion Plan as Part of Black History Month Celebration
This month, we shared our internal Diversity, Equity, and Inclusion (DE&I) framework. NAIC DE&I leadership developed this framework collaboratively to drive change, promote accountability in its workplace, and offer the insurance sector a model to build similar programs. Progress with DE&I is a journey of cultural change, which is why the NAIC plan is made up of immediate and longer-term initiatives designed to build and foster a diverse and inclusive culture where employees are encouraged to share their authentic selves. The plan focuses on four key areas: the workforce, the workplace, supporting our members, and our community.
In addition, look out for our 150th Anniversary #ThrowbackThursday social media posts. This month, the posts will all be related to Black History Month.
The Regulators Podcast
Wow! We just kicked off the third season of The Regulators. In the first episode of season three, we celebrate our 150th Anniversary with a one-on-one conversation with newly elected NAIC Secretary-Treasurer and Connecticut Insurance Commissioner Andrew Mais. Be sure to listen, rate and subscribe!
NAIC Announces 2021 Regulatory Priorities
NAIC members decide on the priorities and discuss potential workplans annually following the announcement of the organization’s Officer and Committee appointments. The strategic priorities for 2021 are:
COVID-19 — In 2021, the NAIC will continue its 2020 “Priority One” – an overarching initiative designed to support NAIC members in their response to the ongoing pandemic and its impact on consumers and insurance markets.
Long-Term Care Insurance (LTCI) — State insurance regulators will continue ongoing efforts to improve the consistency around LTCI rate review processes; examine insurer reserve adequacy; facilitate innovative product offerings; engage with federal policymakers on LTCI policy; and educate consumers on LTCI products and alternative benefit options.
Race & Insurance — The insurance regulatory system, and insurance in general, reflects the society it protects. Through our special committee on race and insurance we will continue to ensure the availability and affordability of insurance products for persons of color and historically underrepresented groups and promote diversity and inclusion within our sector.
Climate Risk & Resiliency — The NAIC is committed to working with state, federal and international stakeholders to coordinate climate-related risk and resiliency assessments, disclosures, and evaluation initiatives so that each state has the information, policies, and tools that promote resiliency and ensure stable insurance markets for its citizens.
Consumer Data Privacy — Regulatory concerns about the use of consumer data by a variety of commercial, financial, and technology companies are increasing. We will continue to review, monitor, and update current state insurance privacy protections to ensure that consumer data privacy is protected.
Big Data/Artificial Intelligence — State regulators continue to examine the benefits and potential unintended consequences arising from the use of non-insurance consumer data.
Vermont Becomes 33rd NAIC Member to License State Based Systems
The Vermont Department of Financial Regulation joined 32 other states in licensing State Based Systems (SBS). The electronic system enables state insurance departments to more efficiently and effectively process license applications, renewals, inquiries, complaints, enforcement actions, and more with a minimum of effort while remaining compliant with national uniformity initiatives. If you would like information about SBS, contact email@example.com.
Monthly PIO Call
Please join us for our February PIO call on Thursday 02/18. You can join the meeting here. We will also send you a calendar invite closer to the day of the call.
ALL TIMES LOCAL unless indicated as daylight saving time or standard time:
3:00 p.m. ET, 2:00 p.m. CT, 1:00 p.m. MT and (Phoenix), Noon PT, 11:00 a.m. AKDT, 10:00 a.m. HST
If you have any state news and/or announcements you'd like to discuss, please email them to: firstname.lastname@example.org - we look forward to "seeing" you there!