Despite this year’s ongoing challenges, we have stayed consistent and resilient in our approach regarding issues that affect consumers and the insurance industry. Our obligations to consumers remain unwavering and are reflected in all that we do. I am pleased to highlight the ground we have covered in the past month in my penultimate Farmer’s Files.

In this edition, I highlight the achievements made by the Climate and Resiliency (EX) Task Force with the adoption of its charges; share our members’ responses to the pandemic with the second release of the COVID-19 report; and recognize members who have been recently re-elected to their positions. These are just a few of the highlights included in this edition of Farmer’s Files.

Priorities

COVID-19 – NAIC Releases Second Report Detailing Actions Taken Regarding Pandemic

A second report, detailing the COVID-19 pandemic and the state insurance industry, was released in October. A Report of the NAIC on the State Insurance Regulatory Response to COVID-19 Update 2 outlines the actions taken by members and state insurance regulators from June 1, 2020 to Sept. 30, 2020 to help curtail the impact of the pandemic. The report builds on the responses to the pandemic that were noted earlier in the year and it serves as a reference for how matters are being identified and addressed. The organization’s initial report, A Report of the NAIC on the State of Insurance Regulatory Response to COVID-19, includes members’ actions from Jan. 1, 2020 to May 31, 2020.

Additional reports will be issued as the COVID-19 pandemic continues to evolve.

NAIC’s Climate and Resiliency (EX) Task Force Holds First Open Meeting, Adopts Charges
To be in a stronger position in 2021, the Climate and Resiliency (EX) Task Force held its first public meeting on Nov. 3, 2020. California Commissioner and Task Force Co-Chair, Ricardo Lara, shared the Task Force’s workplan and organization structure. The Task Force unanimously adopted its 2021 proposed charges and appointed vice-chairs for each of its five workstreams.

The next meeting for the Climate and Resiliency (EX) Task Force will be held Dec. 4, 2020 during the virtual Fall National Meeting.

CIPR to Hold Special Session on Business Interruption During Fall National Meeting
The NAIC Center for Insurance Policy and Research (CIPR) will hold a special session titled “Pandemic Business Interruption Federal Insurance Mechanism - Learning from the Past, Thinking About the Future.” The special session is scheduled for three hours and will consist of three panels. Panelists include representatives from the industry, a representative from the Congressional Research Service, and a congressional staff person. In addition, the CIPR will be reviewing the various Business Interruption proposals that have been put forward in the context of lessons learned from previously established federal programs such as the National Flood Insurance Program (NFIP), the Terrorism Risk Insurance Program, and the Crop Insurance Program. 

All registered participants are encouraged to attend and learn more about the intricacies surrounding this topic. The session will take place Tuesday, Dec. 8, 2020 from 10a.m. to 1p.m. Central Time.

NIPR: Twenty-Six States Now Offer Online Testing

A significant change to producer licensing as a result of the pandemic is the rapid growth of pre-licensing and education testing. Before Mar. 2020, only one state had launched a pilot program for online exams. As of Nov. 16, 2020, 26 states now offer exams online. The National Insurance Producer Registry (NIPR) continues to monitor and publish this information to the NIPR COVID-19 Resource Center.

November Highlights

NAIC 2020 Fall National Meeting
Haven’t registered for the Fall National Meeting? There’s still time! Click the link to register for the 2020 Virtual Fall National Meeting.

The Regulators Podcast

Season 2, Episode 9: Presidential Election Impact on State-Based Insurance Regulation

Nearly 160 million Americans voted during the 2020 U.S. Presidential Election. That’s the highest voter turnout in modern history. On this episode of The Regulators, Mike Consedine, NAIC CEO, and Ethan Sonnichsen, NAIC Managing Director of Government Relations, discuss the energy behind the election and its potential impact on state-based insurance regulation.

Season 2, Episode 8: Maintaining Vision During Change Promoted on LinkedIn
NAIC CEO, Mike Consedine, shares his thoughts on leading through change in a recent LinkedIn article. The article focuses on the NAIC’s updated priorities for the year, which he and I discussed in The Regulators Podcast – NAIC 2020 Priorities Updated.
Listen to the podcast 

NAIC Congratulates New and Re-Elected State Insurance Regulators
For some of our members, Election Day was an extra special day as they were re-elected to their post. We want to congratulate re-elected NAIC members:

• Delaware – Trinidad Navarro
• North Carolina - Mike Causey
• North Dakota – Jon Godfread
• Washington – Mike Kreidler

We also welcome Montana’s newly elected Commissioner, Troy Downing.

NAIC Communications Team Wins MarCom and PRSA Awards
Congratulations are in order for the NAIC Communications team on winning two marketing and communications awards!
The NAIC’s “What the Flood!” campaign recently earned a Gold MarCom in the Strategic Communications, Communications/Public Relations Category. The MarCom Awards honors excellence in Marketing and Communications. Additionally, the 2019 Annual Report received an honorable mention. Since its inception in 2004, MarCom has evolved into one of the largest, most respected creative competitions in the world. Each year, about 6,000 print and digital entries are submitted from dozens of countries.

In addition, the Greater Kansas City Public Relations Society of America (GKC - PRSA) awarded the team with a “Best in Show” during their PRSA Prism Awards for the successful flood campaign.

The “What the Flood!” campaign includes an interactive quiz, press releases, social media/Twitter Chat graphics, Consumer Insight articles, and more and is a sub-set of our ongoing campaigns #YourRiskisReal and #ReduceYourRisk. The tool kit and all its elements are available for use by state insurance departments and can be accessed on the PIO Resource Center.
 

2021 Consumer Liaison Application Process Is Now Closed
The NAIC received 45 applications for its 2021 Consumer Liaison Representative Program, an increase of seven applicants compared to the number of applications received in 2019. Out of the 45 applicants, 16 are current Consumer Liaison Representatives who are reapplying, and 17 are first time applicants.

The NAIC named 33 Consumer Liaison Representatives for 2020. Three of the 2020 Consumer Liaison Representatives notified the NAIC that they would not be reapplying to provide opportunities for more diverse applicants.

Applicants will be selected in December of this year by the 2020 NAIC/Consumer Participation Board of Trustees and notified prior to the 2021 Spring National Meeting.