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The Market Actions Working Group (MAWG) consists of a diverse and geographically balanced membership of the top Market Conduct Regulators in the country. Through review, a national submission process, and analysis, insurance companies are identified that exhibit current or potential market regulatory issues of national impact, or companies or issues that reach a certain mass of regulatory activity or interest. Membership then facilitates the efficient communication, collaboration, and coordination of the use of a broad continuum of regulatory responses among states to address the regulatory issue in the most expedient manner possible.
The Working Group provides regulator only forums where all jurisdictions are able to engage in a free exchange of market conduct information. These forums enhance state based regulation by reducing duplicative efforts, and promoting efficiencies which ensure that market issues are adequately addressed whenever, and wherever they occur. Membership also provides expertise and guidance to collaborative actions addressing issues that impact only a small number of states.
Collaborative Action Designees (CADs)
Each jurisdiction’s Commissioner appoints a Collaborative Action Designee (CAD) to be the liaison with the Market Actions Working Group, and to take responsibility for all communications related to collaborative actions. The CAD is responsible for communicating with other state CADs via, at a minimum, the Market Initiative Tracking System (MITS) and the Market Regulation and Market Analysis Electronic Forums (Bulletin Boards).
The CADs are also responsible to communicate with their own Department staff regarding collaborative actions and settlements affecting their state, to facilitate their state’s participation in those actions, and to provide recommendations to MAWG on those Actions, as authorized by their Commissioner.
To help ensure consistency, each state is generally limited to one CAD, and NAIC Staff is directed to provide information about specific collaborative actions only to CADs. |
