NAIC Releases 2017 Insurance Department Resources Report – Volume One

The National Association of Insurance Commissioners (NAIC) today released the first volume of the 31st edition of the Insurance Department Resources Report (IDRR).

Developed through an extensive survey of the NAIC member states, the report is intended to provide state insurance departments with information to compare their resources with other insurance departments.

NAIC Fiscals Signal Priorities and Progress

The NAIC today released three fiscals related to the NAIC's strategic plan, State Ahead, for public comment.

"The NAIC is responsible for the largest collection of financial data in the world," NAIC CEO Mike Consedine said. "The two enterprise data fiscals released today will fund efforts to modernize the management of that data — preparing it for a revolution in emerging analysis tools that state insurance regulators will use to better understand their markets."

NAIC Applauds Inclusion of International Insurance Standards Act in Jobs Act 3.0

The NAIC applauds the inclusion of H.R. 4537, the International Insurance Standards Act, in the bipartisan Jobs Act 3.0, which passed the House of Representatives 406-4. The language ensures that federal representatives in international negotiations will advocate only for standards that will not undermine the U.S. insurance regulatory framework, a system that has proven to protect insurance consumers and promotes a vibrant U.S. insurance market.

H.R. 4537 safeguards transparency and provides additional mechanisms for congressional oversight to ensure decisions about changes to the U.S. system of insurance regulation are made at home and not abroad. It also ensures more inclusion of state insurance regulators, the primary regulators of the U.S. insurance sector and those chiefly responsible for implementing standards and agreements, in international negotiations.

We urge the Senate to take up this important piece of legislation.

Distracted Driving

NAIC Hosts Financial Regulators In KC

The NAIC recently hosted newcomer regulators at its central office in Kansas City for the inaugural New Financial Regulator Training. More than 100 regulators from across the country received training that featured panel discussions, case studies and networking activities. Experienced regulators partnered with NAIC staff to develop training in support of State Ahead, the NAIC's strategic plan.

Financial Condition (E) Committee
Financial Regulation Standards and Accreditation (F) Committee

NAIC President McPeak & Cerner's Sutariya Address Health Care Cost Drivers

NAIC President Julie Mix McPeak and Cerner Chief Medical Officer Bharat Sutariya, MD, FACEP, discuss cost drivers in health care and insurance during the Insurance Summit. This one-on-one session with thought leaders addressed the 3.3 trillion-dollar healthcare cost question and opportunities for mitigating escalating costs.

NAIC Leaders Discuss 2018 Key Initiatives

NAIC Leadership kicked off Day 3 of the Insurance Summit with the annual officer panel. NAIC President Julie Mix McPeak (Tennessee), President-Elect Eric A. Cioppa (Maine) and Vice President Raymond G. Farmer (South Carolina) were joined by NAIC COO/CLO Andy Beal and Iowa Insurance Commissioner Doug Ommen for a discussion about the association's State Ahead strategic plan.