National Association of Insurance Commissioners Summer 2017 National Meeting Preview
Date Published: 07-13-2017
The National Association of Insurance Commissioners ("NAIC") will convene its Summer 2017 National Meeting from August 6-9 in Philadelphia, Pennsylvania.
The event features the 10th Annual State Legislator/Government Official Program, which offers sessions specifically designed to educate state legislators and governmental officials about the fundamentals of state-based insurance regulation, provide an overview of NAIC services to the states, and engage them in discussions on key policy developments.
The NAIC's Center for Insurance Policy and Research will also hold an event entitled "Enhancing Protections and Empowering Consumers for a Secure Retirement." The event includes a presentation and panel discussion aimed at identifying consumer knowledge gaps and protection needs related to retirement security, including long-term care insurance and Medicare.
Among the Committees and Working Groups that will meet during the event are:
The CyberSecurity Working Group, which will discuss the fifth version of the draft Insurance Data Security Model Law and receive comments from interested parties. Part of the NAIC's Executive Committee, the Working Group will hear a report on the 2016 cybersecurity data collection.
The Property and Casualty Insurance Committee, which will:
- Hear a presentation related to the development of private flood insurance products;
- Hear a federal update on property and casualty insurance issues;
- Hear a presentation on the Title Insurance Consumer Tool;
- Hear a presentation on mitigation discounts; and
- Discuss the modernization of commercial insurance regulation.
The Auto Insurance Working Group will discuss next steps related to an auto insurance data call.
The Catastrophe Insurance Working Group will receive an update on the National Flood Insurance Program ("NFIP") and current catastrophe legislation and discuss status of the NFIP data-collection efforts.
The Catastrophe Response Working Group will hear updates from the states that have recently experienced disasters. The Working Group also will discuss the "Catastrophic Event/Emergency Measures" document, as well as items drafted for the State Disaster Response Plan.
The Workers' Compensation Task Force will hear a presentation from the National Council on Workers' Compensation (NCCI) on the state of the standard and residual workers' compensation markets. It will also hear a progress report on the effort to update the 2008 study, An Overview of Workers' Compensation Independent Contractor Regulatory Approaches and a report from FAIR Health on its data collection work in the workers' compensation arena.
The Market Regulation and Consumer Affairs Committee will discuss the merger of the Market Analysis Review System (MARS) Level 1 and Level 2 reviews, the next proposed MCAS line of business and possible improvements to the market analysis framework.
The Pre-Dispute Mandatory Arbitration Clauses Working Group will discuss whether regulatory action is needed to address the inclusion of mandatory arbitration, choice-of-venue and choice-of-law provisions in insurance contracts.
The Public Adjuster Working Group will discuss the development of a consumer brochure discussing the role of public adjusters and a model bulleting addressing the unauthorized practice of public adjusting.
The Anti-Fraud Task Force will consider adoption of reports from the Anti-fraud Education Enhancement Working Group and the Antifraud Technology Working Group. In addition, the Task Force will discuss the development of NAIC anti-fraud education/training courses to potentially lead to the development of an NAIC Fraud Designation Program. The Task Force also will discuss the development of a new fraud guideline that can be used by new regulators entering into state fraud departments.
The Producer Licensing Task Force will consider adoption of a formal position on whether to eliminate pet insurance as a limited line of insurance. Members will also receive an update on the state entry of Financial Industry Regulatory Authority (FINRA) regulatory actions to the NAIC Regulatory Information Retrieval System, along with an update on the implementation of the 1033 State Decision Repository.
Should you have any questions or comments, please contact Colodny Fass.
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