Market Regulation and Consumer Affairs (D) Committee
Market Regulation and Consumer Affairs (D) Committee Page
Joint Executive (EX) / Plenary Committee Summary Report
Fall 2009 Meeting Summaries Index

The Market Regulation and Consumer Affairs (D) Committee met Sept. 24, 2009.

During this meeting, the Market Regulation and Consumer Affairs (D) Committee:

  • Received an update regarding the future activities of the Market Conduct Annual Statement. A Business Financial Impact Statement (BFIS), which provides for the development of a new Market Conduct Annual Statement automated collection system and the hiring of one additional staff person to assist in the collection and analysis of the data, is included as part of the proposed 2010 budget.
  • Received an update regarding the current activities of the Market Conduct Annual Statement. All 29 states that received the 2008 data have now successfully transferred it to the NAIC for aggregation and analysis. The NAIC signed confidentiality agreements and the data was submitted in an encrypted format.
  • Received a presentation regarding the survey of states participating in the Market Conduct Annual Statement. The survey, responded to by all 25 states that had been participating for more than one year, indicated most states saw value in the majority of the ratios. In addition, most states were satisfied with the way the majority of ratios were calculated and the level of detail provided with the current process.
  • Announced Director Huff would be the chair of the new Market Information Systems Task Force to oversee the development of the new Market Conduct Annual Statement automated collection system. While the primary focus of the Task Force will be the oversight of the new automated system, it will also provide oversight for all market systems.
  • Received a presentation regarding the Committee’s strategic planning session in which the Committee  reviewed and updated its strategic plans. Several items from the 2003 commitments were updated to more accurately reflect the correct functions required for effective market regulation. Like they did in 2003, the Committee emphasized appropriate standards in the areas of Market Analysis, Market Conduct Examinations, and Interstate Collaboration.
  • Received an update on the joint D Committee/B Committee Public Hearing regarding the use of “Usual, Customary and Reasonable” in the reimbursement of medical expenses.
  • Received an update on the joint D Committee/C Committee Public Hearing regarding the use of Credit-Based Insurance scores.
  • Postponed the adoption of the D Committee’s 2010 charges until further enhancements could be made to the draft charges and the formal appointment of the MIS Task Force, with its charges, could be made.
  • Received reports from the Working Groups and Task Force.
 

Minutes are available approximately two weeks after the meeting concludes.

Minutes are available free for meeting attendees using the User ID and Password supplied by the NAIC. Members may access minutes via StateNet. Non-attendees and those requiring minutes from previous meetings, may purchase the Proceedings of the NAIC through the NAIC Store.