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Property and Casualty Insurance (C) Committee

The mission of the Property and Casualty Insurance (C) Committee is to monitor and respond to regulatory issues associated with property or casualty insurance products, including issues regarding their delivery and cost. The Committee monitors property and casualty insurance markets and the surplus lines market. The Committee addresses regulatory issues associated with both personal lines (particularly auto and homeowners insurance) and commercial lines coverages. The Committee also monitors and responds to problems associated with financial reporting matters for property and casualty insurers that are of interest to regulatory actuaries and analysts and monitors and responds to problems associated with the financial aspects of the surplus lines market.

In recent years, the Committee has published a report on market conditions within the various state medical liability markets, adopted a model bulletin addressing the use of confidential bank regulatory information in the underwriting process by D&O insurers, and adopted a white paper on uninsured motorists issues. The Committee closely monitors activities related to insurers and insurance advisory organizations. It follows federal legislation of interest such as proposals to extend the Terrorism Risk Insurance Act, proposals to establish a no-fault trust fund to settle claims related to exposure to asbestos, and proposals to address class action litigation abuses.

The Committee has four task forces that report to it and has appointed eight working groups to assist it with its deliberations. The task forces address actuarial matters of interest to regulatory casualty actuaries, information related to statistical reporting by property and casualty insurers, issues in the surplus lines markets and workers’ compensation insurance regulatory issues. The working groups are developing examination protocols for advisory organizations, dealing with various aspects of disasters, both natural and acts of terrorism, addressing regulatory concerns about encroachment into regulatory processes by courts through class action litigation, coordinating with federal crop insurance regulators with regard to the delivery of crop insurance products to the nation’s farmers, monitoring developments related to risk retention groups, particularly related to corporate governance and ownership, monitoring issues related to the delivery of title insurance products and assisting in the development of uninsured motorists verification systems.

A detailed list of the Committees formal charges is available.

No related topics at this time.

Related NAIC Publications
Auto Insurance Database

Catastrophe Computer Model Handbook

Commercial Lines Competition Database

Compendium of State Laws on Insurance Topics

Credit Life and Credit Accident and Health Insurance Experience Report

Cycles and Crises in Property/Casualty Insurance: Causes and Implications for Public Policy

Dwelling, Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owner's Insurance
Market Share Reports for Groups and Companies Property and Casualty

Model Laws, Regulations and Guidelines

Profitability by Line by State
Risk-Based Capital Forecasting
Risk Retention and Purchasing Group Handbook

State Disaster Response Plan

Statistical Compilation of Annual Statement Information

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Advisory Organizations Examination Protocol Working Group

Catastrophe Insurance Working Group
Consumer Guides Working Group
Crop Insurance Working Group
Risk Retention Working Group
Terrorism Insurance Implementation Working Group
Title Insurance Issues Working Group
Uninsured Motorists Working Group
Casualty Actuarial Task Force
Profitability Working Group
Statistical Information Task Force
Surplus Lines Task Force
IID Plan of Operation Review Group
Surplus Lines Financial Analysis Working Group
Workers’ Compensation Task Force
Large Deductible Study Implementation Working Group
NAIC/IAIABC Joint Working Group
NCCI Oversight Working Group Report
Professional Employer Organization Model Law Working Group
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Regulators may access meeting minutes through MyNAIC.org. Non-Regulators may purchase meeting minutes through NAIC Store.

August 25, 2008, 2:00 p.m. CDT Conference Call

12/01/07 Public Hearing Regarding Use of Catastrophe Modeling by Rating Agencies

9/28/07 Public Hearing Regarding Catastrophe Modeling

9/24/07 Public Hearing Regarding Coastal Issues

Medical Professional Liability Closed Claim Reporting Model Law

Standards for Monitoring Compulsory Auto Insurance and Financial Responsibility Laws

2006 Resolution Supporting Catastrophe Legislation
Media queries should be directed to the NAIC Communications Division at 816-783-8909 or news@naic.org.

Eric C. Nordman, CPCU, CIE
Director of Research
Phone: 816.783.8005
Fax: 816.460.7594

Joe Bieniek, CPCU, ACP, CIC, ARC, AIS, AU
Statistical Information Manager
Phone: 816.783.8226
Fax: 816.460.7448
Please see the current Committee List for a complete list of committee members.