National Association of Insurance Commissioners News

NAIC Adopts Ridesharing White Paper

The National Association of Insurance Commissioners announced on Tuesday it adopted a white paper on insurance coverage for ridesharing that offers several suggestions for how state regulators should deal with insurance issues. Ridesharing services offered by transportation network companies like …

NAIC Report: New Jersey Tops Nation in Auto Insurance Rates

An annual industry report shows New Jersey has the costliest auto insurance rates in the nation. The National Association of Insurance Commissioners says New Jersey motorists paid an average of $1,220 in 2012. That’s about 49 percent more than the …

Climate Change Modeling on Cusp of Paradigm Shift

In the face of growing interest in climate change impacts, several big catastrophe modelers said they’ve heard from more clients interested in receiving climate-related data and they believe the field is on the cusp of a change in the way …

Climate Change Regulations for Insurers Not Out of Realm of Possibility

Some sort of climate change regulation for the insurance industry could be just around the corner. Then again, it might not be. It’s a tossup in the eyes of Don Reed, a managing director in PricewaterhouseCoopers’ U.S. sustainable business solutions …

Conn. Urges Feds Not to Preempt States on Reducing Foreign Re Collateral

Connecticut Gov. Dannel P. Malloy, a vocal proponent of state-based insurance regulation in the U.S., sent a letter to U.S. Treasury Secretary Jack Lew and U.S. Trade Representative Michael Froman, urging them not to preempt states’ regulations in reducing collateral …

Heading a National Ridesharing Outline a Political Gain for Jones?

A committee of regulators led by California Insurance Commissioner Dave Jones is working on standards on ridesharing that departments of insurance in states across the U.S. can look to as an example. Whether the National Association of Insurance Commissioners Sharing …

Penn. Commissioner Consedine to Leave Post After Gov.-Elect Wolf Is Sworn In

Michael Consedine, Pennsylvania’s insurance commissioner and president-elect of the National Association of Insurance Commissioners (NAIC), will leave the Insurance Department after Democratic Gov.-elect Tom Wolf is sworn in as the 47th governor of Pennsylvania on Jan. 20.

Price Optimization Allegations Challenged, NAIC Investigating Practice

Reaction to industry-wide price optimization allegations from a consumer group known to call out insurers has been somewhat critical yet guarded – however it appears regulators may already be starting to look into the practice. Consumer Federation of America this week …

Missouri Insurance Director Huff Honored for Distinguished Service

Missouri Department of Insurance Director John M. Huff has received the Distinguished Service Award from the National Association of Insurance Commissioners. He was recognized for his tenure on the U.S. Department of Treasury’s Financial Stability Oversight Council (FSOC). “I am …

State Regulators Form Cyber Issues Task Force

The National Association of Insurance Commissioners (NAIC) said it has formed a special task force to help states coordinate efforts related to cyber security and insurance industry data and coverages. NAIC said the task force will make coordinate NAIC efforts …