FOR IMMEDIATE RELEASE

NAIC DEVELOPS STRATEGIC FRAMEWORK TO BENEFIT STATE-BASED REGULATION
Two-Day Session at Commissioners Conference Serves as Launch Pad for Association's Plan

KANSAS CITY, Mo. (Feb. 12, 2007) - The National Association of Insurance Commissioners (NAIC), under the leadership of Association President Walter Bell, is working toward developing a long-term strategic framework to better enhance its ability to proactively and collaboratively respond to local, state, national and international regulatory environments. 

During the NAIC's annual Commissioners Conference last week, Members engaged in a two-day, facilitated session to begin framing the strategic issues facing state insurance regulation and the Association.

"The NAIC leadership is committed to strategic management," said Bell, who also serves as Commissioner of Insurance for Alabama. "Through this commitment, our Members have an opportunity to come together to set the strategic direction for the future of state insurance regulation and the role of the NAIC."

The session served as a launching point for this analytical process, which will continue to be built upon throughout the next 18 months by not only identifying key issues, but also by developing a detailed strategy that includes guiding principles and outcomes. To assist in this task, the NAIC has retained a management consultant with more than 30 years of experience in the non-profit sector and brings with him a strong background in strategy development, governance and leadership for the non-profit community.

"The success of state-based modernization has resulted in strong consumer protections and a healthy industry," Bell said. "Along with this success, we must look at how the NAIC can continue to make improvements through identifying issues and strategies that will enable us to be responsive at a state level to the protection of policyholders, while balancing the need to streamline regulation in an industry that is global in nature." 

About the NAIC

Headquartered in Kansas City, Missouri, the National Association of Insurance Commissioners (NAIC) is a voluntary organization of the chief insurance regulatory officials of the 50 states, the District of Columbia and the five U.S. territories. The NAIC's overriding objective is to assist state insurance regulators in protecting consumers and helping maintain the financial stability of the insurance industry by offering financial, actuarial, legal, computer, research, market conduct and economic expertise. Formed in 1871, the NAIC is the oldest association of state officials. For more than 135 years, state-based insurance supervision has served the needs of consumers, industry and the business of insurance at-large by ensuring hands-on, frontline protection for consumers, while providing insurers the uniform platforms and coordinated systems they need to compete effectively in an ever-changing marketplace. For more information, visit NAIC on the Web at: http://www.naic.org/press_home.htm

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