FOR IMMEDIATE RELEASE
NAIC WHITE PAPER EXAMINES STATE OF THE LIFE
Volume Addresses History and Risk Assessment
WASHINGTON, D.C. (April 4, 2013) - The National
Association of Insurance Commissioners (NAIC) released the first
installment of a white paper on the state of the life insurance industry
and the implications of emerging trends. This is the first release in a
series of three.
Written and developed by the NAIC's Center for Insurance
Policy and Research (CIPR), State of the Life Insurance Industry explores
how the industry has evolved, the nature of regulatory responses, changes
in product offerings and technology, and challenges of the economic
climate. The first installment of the white paper includes
"Historical Evolution of Life Insurance," which traces
the history of life insurance from the 18th century to the present, and
"Meeting the Risks of the New Environment," which explores risk
management in the context of the changing and complex market.
"The unique nature of life insurance requires regulators to
keep pace with changes and to anticipate trends in the market," said Julie
Mix McPeak, Chair of the NAIC Life Insurance and Annuities Committee and
Tennessee Insurance Commissioner. "The white paper provides an important
framework to assist regulators in assessing which changes have been
successful, identifying areas that may need improvement, and considering
The second installment will feature "Life Insurer
Balance Sheets" and "Implications of Economic and Market Changes
on Life Insurers" sections. The third installment will
include "Current and Emerging Trends in Life Insurance Products"
The second and third installments will be released in
mid-April and early May, respectively. Concurrent with the third
installment, the white paper will be available as one document.
to view the first installment of the white paper.
About the NAIC
The National Association of Insurance Commissioners (NAIC) is the U.S.
standard-setting and regulatory support organization created and governed
by the chief insurance regulators from the 50 states, the District of
Columbia and five U.S. territories. Through the NAIC, state insurance
regulators establish standards and best practices, conduct peer review, and
coordinate their regulatory oversight. NAIC staff supports these efforts
and represents the collective views of state regulators domestically and
internationally. NAIC members, together with the central resources of the
NAIC, form the national system of state-based insurance regulation in the
U.S. For more information, visit www.naic.org.