National Association of Insurance Commissioners (NAIC) News

NAIC: Wisconsin 29th State to Join State Based Systems

The National Association of Insurance Commissioners (NAIC) reported that Wisconsin is the 29th state to license State Based Systems (SBS), an electronic-filing tool created for NAIC members to increase efficiency in regulatory functions. “We believe our transition to SBS will increase …

Month-Long Austin Rideshare Challenge Shows Drivers Lack Insurance Savvy

Josh Waldrum knows from first-hand experience that most of the folks who drive for rideshare services like Uber and Lyft are not well informed about the insurance issues that insurance professionals see as problematic such as coverage gaps, and the amounts and …

Arkansas Insurance Department Initiates State Based System Process

The Arkansas Insurance Department announced that it has completed the initial phase of the State Based Systems (SBS) implementation process, making it the latest state to take advantage of the National Association of Insurance Commissioners’ (NAIC) electronic application for its …

NAIC Hiring Consultant to Review Its Decision-Making, Governance

The national organization for state insurance regulators, which has been telling federal and international regulators how they should govern the industry, has decided to engage a consultant to audit its own governance and policy-making practices. The National Association of Insurance …

Insurance Regulators to Job-Switchers: Look Beyond Salary

Many Americans who leave their jobs to improve their financial situation fail to consider their total compensation package when making the decision, according to a consumer survey. The survey by the National Association of Insurance Commissioners (NAIC) found that many …

Life Insurers Flock to ‘Easy’ Iowa As More Federal Oversight Looms

After Symetra Financial Corp. was formed in 2004, the life insurer set up shop in a 25-story glass tower outside Seattle, put its name on the building and pushed the state to adopt more favorable rules for its business. The …

Oklahoma Commissioner to Seek NAIC Investment in Emergency Response Vehicles

Oklahoma Insurance Commissioner John D. Doak announced that he intends to ask the National Association of Insurance Commissioners (NAIC) to invest in Shared Emergency Response Vehicles (SERVEs) for education and disaster response. “These vehicles are a great way for the …

Missouri Insurance Regulator Heese Receives NAIC Award

The National Association of Insurance Commissioners (NAIC) presented Fred Heese, director of the Missouri Division of Insurance Company Regulation and the state’s chief financial examiner, with the Robert Dineen Award, the Missouri Department of Insurance announced. Heese is the first …

Report Casts Light on High Cost of Homeowners Insurance in Florida

Floridians are paying the highest homeowner insurance rates in the nation even though the state has not been hit by a hurricane in nearly a decade. A national report shows the average premium for most Florida homeowners is $1,933 a …

State Insurance Commissioners Lack Consensus on Cancellations

Kansas, North Dakota and other state insurance commissioners snubbed a meeting with President Barack Obama set up to discuss allowing some people to keep medical plans that don’t meet the requirements of the U.S. health law. Six commissioners e-mailed their …