Montana State Auditor John Morrison has been named chair of the Market Regulation and Consumer Affairs Committee of the National Association of Insurance Commissioners. Morrison will lead the committee’s oversight of the marketplace conduct of insurance companies and agents across the United States, including multi-state investigations of some of the country’s largest insurance companies.
One of the primary standing committees of the NAIC, the Market Regulation and Consumer Affairs Committee coordinates multi-state analysis and investigation of suspected wrongdoing in the insurance marketplace and leads collaborative state regulatory actions. The committee also develops uniform systems for collection of information and marketplace monitoring activities. In recent years, the multi-state actions overseen by the committee have imposed millions of dollars in fines and collected tens of millions in restitution from companies charged with improper claims handling and other violations. The committee has also developed national policies relating to consumer protection on such issues as credit scoring, discrimination, “red lining” and claims settlement practices.
Morrison previously chaired the NAIC’s Health Insurance and Managed Care Committee, as well as the organization’s Consumer Protection Working Group and the emergency task force set up to address issues arising from the attacks on Sept. 11, 2001.
Source: Montana State Auditor’s Office