Latest Naic Headlines
All the headlines from our Naic Topic Page, ordered by recency.
NAIC Changes Dates of Fall National Meeting
Jan 29 2002 // The National Association of Insurance Commissioners (NAIC) announced that the dates for its Fall National Meeting in New Orleans, La., have been changed to Sept. 9-12, 2002. The meeting will continue to be held at the New...
Statement Regarding NAIC’s Consumer Complaint Web Site
Jan 25 2002 // The National Association of Mutual Insurance Companies (NAMIC) recently released a statement asserting that despite concerns of over accuracy and appropriateness of information, the National Association of Insurance...
NAMIC REpresentative Warns of ‘Stultifying’ Economic Consequences of Reinsurance Shortage
Jan 21 2002 // Warren Heck, chairman and CEO of the Greater New York Mutual Insurance Company will explain to the NAIC’s Reinsurance Task Force the more general economic problems that accompany the post-9/11 reinsurance...
Regulators Should be Deliberate, Flexible When Considering Personal Lines Terrorism Exclusions
Jan 18 2002 // The National Association of Independent Insurers (NAII) has urged insurance regulators to “move with deliberation…on terrorism exclusions for personal lines” and to remain flexible when considering such...
Calif. Won’t Adopt Terror Exclusions
Jan 8 2002 // According to a Jan. 7 Los Angeles Times article, California has refused to allow insurers to adopt terrorism exclusion language, a move which has already been by approximately 20 other states in the wake of Sept. 11. The...
Welcome to the 3rd Annual “Top Ten Stories of the Year”
Dec 24 2001 // In what became one of the most significant, traumatic and challenging years in U.S. history, the insurance industry, along with the rest of the nation, has had to come to terms with the terrorist attacks perpetrated...
Regulators Move Forward on Programs Designed to Prevent Market Problems, Standardize Exams
Dec 20 2001 // The National Association of Insurance Commissioners (NAIC) has begun developing a program to help states identify market conduct problems as early as possible and has adopted a proposal to make market conduct exams more...
NAII Testifies on Labeling for Privacy Notice Guidelines
Dec 20 2001 // The National Association of Independent Insurers (NAII) testified that privacy notification language being developed for insurers as a guideline should be i dentified as a “safe harbor” rather than a...
NAIC Committee Votes to Forbid Indemnification of Auditors by Their Mutual Audit Clients
Dec 18 2001 // In a firm gesture that told the accounting profession to face its responsibility in annual audits of mutual companies, an NAIC committee with jurisdiction over such audits has voted to forbid indemnification of auditors by...
NAIC Postpones Decision on Public Release of Individual Company Data
Dec 17 2001 // A committee of The National Association of Insurance Commissioners (NAIC) postponed adoption of model law amendments that would allow aggregate insurance company information to be released publicly, but left to state...
Top 10 Stories of 2001
Dec 17 2001 // Recollections and Renewal: Looking Back at 2001 with an Eye to the Future This is the year that was. It is one that many people will be glad to see come to an end because the new year always brings hope—for a rebirth,...
Property and Casualty Commercial Rate and Policy Form Model Law Approved
Dec 14 2001 // State insurance commissioners have advanced a model law to modernize commercial rate and form filings, with final approval possible in the spring. A working group of the National Association of Insurance Commissioners...
NAMIC to Urge NAIC to Prohibit Auditor Indemnification
Dec 7 2001 // The National Association of Mutual Insurance Companies (NAMIC) will again urge the NAIC to prohibit auditor indemnification in engagements with mutual insurance companies. NAMIC’s Manager of Financial Regulation,...
NAMIC Outraged at 2002 NAIC Data-Base Fees
Nov 16 2001 // A “precipitous increase” in proposed 2002 NAIC data-base fees compels the National Association of Mutual Insurance Companies (NAMIC) to express its “justifiable outrage” and call for restraint,...
NAIC ADOPTS RE MODEL ACT
Nov 12 2001 // The National Association of Insurance Commissioners recently adopted the Special Purpose Reinsurance Vehicle (SPRV) Model Act. The act will provide a template for states to create legislation that will enable onshore...
Lloyd’s Prepares for NAIC Audit
Nov 7 2001 // Lloyd’s is preparing to meet with representatives of the NAIC and the accounting firm Arthur Andersen to lay out the parameters for the audit of its reinsurance liabilities in conformity with the NAIC’s...
NAIC SPRV Model Provides Added Tool to Manage Risk for Natural Catastrophes
Nov 5 2001 // The National Association of Insurance Commissioners’ (NAIC) adoption of the Special Purpose Reinsurance Vehicle (SPRV) Model Act will provide a template for states to create legislation that will enable onshore...
NAIC Adoption of Special Purpose Reinsurance Vehicle Model Act Aids States
Nov 2 2001 // (NAIC) adoption of the Special Purpose Reinsurance Vehicle (SPRV) Model Act will provide a template for states to create legislation that will enable onshore securitization of insurance risk for natural catastrophes. The...
NAIC Outlines Principles for Federal Role in Terrorist Insurance Coverage
Oct 29 2001 // In Congressional testimony, National Association of Insurance Commissioners (NAIC) President and Kansas Insurance Commissioner Kathleen Sebelius outlined the NAIC’s suggested role for the federal government in...
Time-Tested Lloyd’s Turns to Address U.S. Disaster Losses
Oct 29 2001 // Lloyd’s of London, the world’s oldest and most visible insurer, has set about dealing with the aftermath of the terrorist attacks of Sept. 11. Two weeks after the event, it released its projected net loss...
