Latest Naic Headlines
All the headlines from our Naic Topic Page, ordered by recency.
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...
Lloyd’s, NAIC Report Compromise
Oct 26 2001 // Lloyd’s and the National Association of Insurance Commissioners have reportedly reached a compromise on the deposit Lloyd’s must make to the reinsurance trust fund to guarantee payments of its estimated claims...
NAIC Withdraws Lloyd’s 60% Funding Deal
Oct 25 2001 // On Tuesday The National Association of Insurance Commissioners reversed its previous decision to permit Lloyd’s to deposit 60 percent, rather than 100 percent, of the amount normally required into its U.S....
NAIC Meets in Washington to Discuss Sept. 11 Aftermath
Oct 24 2001 // Six weeks following the attacks on New York and Washington, insurance companies and regulators are still working on a plan to make sure future terrorist strikes are covered. According to a report in the South Florida...
NAIC To Probe Lloyd’s Solvency After WTC Attacks, Relaxes Fund Requirements
Oct 16 2001 // The National Association of Insurance Commissioners intends to conduct an in depth audit of Lloyd’s financial condition following the attacks on the World Trade Center. The investigation will focus on Lloyd’s...
NAIC Reassures Congress in Aftermath of Terrorist Attacks
Oct 2 2001 // National Association of Insurance Commissioners (NAIC) President and Kansas Insurance Commissioner Kathleen Sebelius told Congress that the American insurance industry is financially able to withstand the pressures created...
NAIC Donates $10,000 to Honor Former NY Ins. Superintendent Lost in Disaster
Sep 27 2001 // In an act of remembrance, the National Association of Insurance Commissioners (NAIC) President and Kansas Insurance Commissioner Kathleen Sebelius announced the association is donating $10,000 to the Neil D. Levin...
NAIC To Hold Summit to Discuss Terrorist Attacks
Sep 26 2001 // The National Association of Insurance Commissioners (NAIC) will hold a summit on Oct. 22-24 to discuss in greater depth the insurance issues related to the recent terrorist attacks. The summit will be held at the Omni...
NAIC Agrees with Congressional Committee’s Stance Regarding Sept. 11 Tragedy
Sep 25 2001 // The National Association of Insurance Commissioners (NAIC) announced on Sept. 20 it will work collaboratively with Rep. Mike Oxley, chair of the House Financial Services Committee, and other members of the Finance...
NAIC Supports Urban Markets Workshop
Sep 19 2001 // The Chicago-based Urban Insurance Partners Institute (UIPI) is organizing a national workshop to help insurers gain the tools necessary to compete effectively in urban areas. Local Initiatives Support Corporation (LISC), a...
NAIC Cancels Fall National Meeting in Boston
Sep 18 2001 // Members of the Kansas City, Mo.-based National Association of Insurance Commissioners (NAIC) unanimously agreed that its Fall National Meeting be canceled in the wake of the tragic events that occurred Sept. 11. The...
NAMIC Says GAO Report Affirms Group’s Stance on NAIC’s Ability
Sep 3 2001 // The National Association of Mutual Insurance Companies (NAMIC) says a long-anticipated General Accounting Office (GAO) report on state regulatory initiatives confirms the association’s position that while state...
NAIC Speed-to-Market Efforts Hastened by SERFF
Aug 30 2001 // The goal of more efficient state filing systems is becoming a reality. By the end of the year, the National Association of Insurance Commissioners (NAIC) anticipates that 41 states will be accepting product and rate...
NAIC DEBATES FRAUD PROVISION
Aug 13 2001 // On behalf of the nation’s insurance commissioners, NAIC President and Kansas Insurance Commissioner Kathleen Sebelius is urging Congress to remove a provision from HR 1408, the Financial Services Antifraud Network...