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Statement: Response to TRIA Expiration
Adam Hamm, NAIC President and North Dakota Insurance Commissioner

We are surprised and deeply disappointed that Congress was unable to pass a reauthorization of the Terrorism Risk Insurance Act – a non-partisan issue with broad support in both parties and chambers – before they adjourned for the year. The NAIC will work with insurers, policyholders, and the business community during this time of uncertainty in the market, as American businesses will have to make tough decisions regarding coverage. We hope that this disruption will be short-lived and urge the new Congress to act quickly to reinstate this critical program.

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NAIC Takes Action on Insurance Priorities
Insurance regulators advance key initiatives
Adam Hamm 
NAIC President and North Dakota Insurance CommissionerAdam Hamm
NAIC President and North Dakota Insurance Commissioner
On a call of the Executive Committee/Plenary, the NAIC adopted both the Revised Insurance Holding Company System Regulatory Act and Actuarial Guideline 48 (AG48), while also approving seven foreign supervisory authorities as Qualified Jurisdictions.

“The adoption of these components supports our 2014 key initiatives and is the result of truly outstanding work by America’s state insurance regulators,” said Adam Hamm, NAIC President and North Dakota Insurance Commissioner.

Full Release

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NAIC Names 2015 Consumer Liaison Representatives
Monica J. Lindeen
NAIC President-Elect and State Auditor Montana Office of the Commissioner of Securities & Insurance Monica J. Lindeen
NAIC President-Elect and State Auditor Montana Office of the Commissioner of Securities & Insurance
The NAIC recently named 30 consumer liaison representatives for 2015. The 20 funded and 10 unfunded consumer representatives begin their terms Jan. 1, 2015. Eighteen of the funded consumer representatives participated in the program in 2014.

“Our consumer liaison representatives play an integral part in helping the NAIC and regulators protect U.S. insurance consumers,” said Monica J. Lindeen, NAIC President-Elect and Montana Commissioner of Securities and Insurance.

Read the full release

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NAIC Releases Report on Profitability by Line by State in 2013
The NAIC released the Report on Profitability by Line by State in 2013.

The report estimates and allocates profitability in property/casualty insurance by state and by line of insurance. The ability to analyze results on a by state by line basis enhances transparency on the financial impact that the economic climate has had on each of these lines. Combined with other information, this can be used in further analysis of competition and market performance.

Read the full release | Download the full report through the NAIC Store

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2011/2012 Auto Insurance Report Now Available
The NAIC announced the release of its 2011/2012 Auto Insurance Database Report, which provides the average costs associated with personal automobile insurance nationwide.

The report features state-by-state auto insurance data designed to provide necessary information and analysis to insurance regulators, consumers and policymakers.

Read the full release | Download the full report through the NAIC Store

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