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 Kevin M. McCarty
NAIC President and
Florida Insurance
Commissioner U.S. Insurance Regulator Affirms Global Supervisory Leadership
NAIC's Congressional Testimony Highlights International Insurance Regulatory Efforts
In testimony before Congress, the NAIC highlighted the strong presence of U.S. insurance regulators. NAIC President and Florida Insurance Commissioner Kevin M. McCarty testified at a hearing of the House Financial Services Subcommittee on Insurance, Housing and Community Opportunity. The focus of the hearing was on international competitiveness of the U.S. insurance sector and its impact on jobs.
"State regulators provide international leadership by setting strong standards and developing creative solutions to regulatory challenges while remaining focused on the protection of policyholders," McCarty said.
Full Story | Commissioner McCarty's Testimony
NAIC International Insurance Relations (G) Committee |
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| Twenty-Eight States Join Metlife Settlement Agreement |
| Multi-State Investigation Leads to Changes in How Company Handles Unclaimed Benefits
Twenty-eight insurance departments have joined a settlement agreement with Metropolitan Life Insurance Company, reaching the required threshold of participating jurisdictions. The agreement follows a multi-state investigation coordinated through the NAIC.
The $40 million settlement with the states was announced in April, after
the joint examination of MetLife's use of the Social Security Administration's
Death Master List to investigate the payment of life insurance benefits and
reporting of unclaimed property.Full Story
UPDATE (5/18/12): Three more jurisdictions have joined the settlement agreement. For a full list of participating jurisdictions, please view the release. |
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NAIC President and Florida Insurance Commissioner Kevin M. McCarty (left), and NAIC President-Elect and Louisiana Insurance Commissioner James J. Donelon (far right), address the audience of the 5th annual NAIC International Insurance Forum. The 170 participants include federal, state and international regulators and many representatives from the U.S. and international insurance industry.
Read NAIC President McCarty's Opening Remarks |
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Oregon Brings SBS Online
Phase One of Regulatory Streamlining System in Place |
 Lou Savage
Acting Oregon
Administrator
The Oregon Insurance Division announced that it has completed the initial phase of implementing State Based Systems (SBS), making it the latest state insurance department to use the NAIC's electronic application for its regulatory needs.
“This online system enables us to more
efficiently handle agent licensing while improving customer service for the more than 100,000 agents who are licensed to do business in our state,”
said Acting Oregon Administrator Lou Savage.
“We are pleased the initial phase of the Oregon implementation is complete,” said NAIC President and Florida Insurance Commissioner Kevin M. McCarty. “SBS offers real value to the NAIC membership as well as the industry and consumers in our states."
Full Story | SBS |
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