Latest Naic Headlines
All the headlines from our Naic Topic Page, ordered by recency.
States Close In on Finite Reinsurance Disclosure; N.Y. Agrees to Adopt Model
Jun 13 2005 // State insurance regulators moved closer to final adoption of a model finite reinsurance disclosure regulation at the summer meeting of the National Association of Insurance Commissioners in Boston this weekend. As they...
FBI Targets Insurance in Probe of Carrier, Agent and PEO Practices
May 23 2005 // The insurance industry, already under scrutiny in some segments by state and federal authorities for various compensation, reinsurance, bid-rigging and accounting practices, now faces another questioner. The Federal Bureau...
PCI: States Need to Take Uniform Approach on Finite Risk Inquiries, Rules
May 23 2005 // As an increasing number of state regulators conduct inquiries and tighten accounting rules and reporting requirements for finite reinsurance transactions, one P/C trade group is urging regulators to take a consistent...
NAIC Reports California Workers’ Comp Finally Moved into the Black in 2003
May 17 2005 // Last month, the National Association of Insurance Commissioners (NAIC) released its “Report on Profitability by Line by State” for calendar year 2003 (see CWCI Bulletin 05-07). The NAIC report provides...
PCI: States Need to Take Uniform Approach on Finite Risk Inquiries and Rules
May 10 2005 // As an increasing number of state regulators conduct inquiries and tighten accounting rules and reporting requirements for finite reinsurance transactions, one property/casualty insurer trade group is urging regulators to...
NAIC Chief Koken of Pa. Says States are Watching AIG Closely
May 5 2005 // Responding to the announcement from American International Group that it was restating its financial statements for the years 2000 to present, and that the filing of its 2004 annual report would again be delayed,...
FBI Targets Insurers in Widening Fraud Probe; Industry Responds
May 5 2005 // The insurance industry, already under scrutiny by state and federal authorities for various practices, now faces another questioner. The Federal Bureau of Investigation has launched a probe of the insurance industry that...
NAIC, Md.’s Redmer Press for Flood Program Review
Apr 8 2005 // The National Association of Insurance Commissioners has formed a working group to examine issues with the National Flood Insurance Program in light of Hurricane Isabel complaints and experiences with other recent storms by...
Regulators Look for a Clue
Apr 4 2005 // Was it Colonel ChoicePoint in the Conservatory With a Knife? When ChoicePoint Asset Co. finally disclosed Feb. 15 that criminals had gained access to the personal information of as many as 145,000 people in all 50 states,...
Insurers Consider NAIC Broker Compensation Disclosure Amendment Overbroad
Mar 28 2005 // The National Association of Mutual Insurance Companies (NAMIC) said it has sent a letter to NAIC President Diane Koken, who also serves as chair of the executive task force on broker activities, to reaffirm its view of the...
National Web Portal for Insurance Regulatory Information Now Available
Mar 16 2005 // A single point of entry for access to insurance information, services and tools for consumers, regulators and industry is now available on the National Portal for Insurance Regulatory Information on the National...
Regulators Name Consumer Liaison Reps for 2005
Mar 15 2005 // The National Association of Insurance Commissioners recently named its funded consumer liaison representatives for 2005. Established in 1992, the program promotes consumer representation and interaction with NAIC members,...
NAMIC Supports NCOIL Against Proposed SOX Regs
Mar 14 2005 // “State legislators are right to challenge an NAIC initiative that would impose sweeping federal requirements designed to protect stockholders on privately held insurance companies,” according to an official of...
NAMIC SOX, Loss History Positions Sway State Insurance Legislators; NCOIL Adopts Broker Compensation Model Act
Mar 8 2005 // National Association of Mutual Insurance Companies (NAMIC) testimony convinced state insurance legislators to object to the application of Sarbanes-Oxley to mutual insurers and to not adopt a loss history database model...
Commissioner Cogswell Stays the Centrist Course in Connecticut
Mar 7 2005 // Under Pressure from AG Blumenthal and Critics, Regulator Sticks to Consensus Approach I’m willing to meet with just about anyone to sit down and discuss issues. That’s the most effective and efficient way to...
NCOIL March 5 General Session to Address Broker Compensation, Disclosure
Feb 28 2005 // Legislators will examine options to address broker compensation and disclosure concerns during a National Conference of Insurance Legislators’ general session scheduled March 5 in Hilton Head, N.C.. The discussion,...
Pa.’s Insurance Chief Koken Performs Balancing Act at Home and On the Road for NAIC
Feb 16 2005 // The nickname probably won’t be showing up anytime soon on the state’s license plates but Pennsylvania could be the Land of Stable Insurance Markets. Not that things are perfect but, according to Insurance...
NAIC Waives $790,000 Industry Assessment Fee
Feb 11 2005 // The National Association of Insurance Commissioners (NAIC) announced that the second installment of a 2004 fixed fee assessment for the NAIC’s Securities Valuation Office (“SVO”) will be waived. The...
PCIA Tells NAIC: SOX Compliance Could Cost Non-Public Insurers $1 B Annually
Feb 9 2005 // A spokesman for the Property Casualty Insurers Association of America told a National Association of Insurance Commissioners panel today in Orlando that a proposal to apply new requirements based on the Sarbanes-Oxley law...
Insurers Oppose Sarbanes-Oxley ‘404’ Proposal
Feb 8 2005 // A National Association of Insurance Commissioners panel this week will begin to discuss whether costly new audit measures based on the federal Sarbanes-Oxley (SOX) law should be imposed on non-public insurers despite...
