The National Association of Insurance Commissioners (NAIC) decided on Wednesday to cancel their fall conference, scheduled for New Orleans from Sept. 10-13. Approximately 1,500 insurance regulators, industry representatives and interested parties had registered to attend the conference.
The NAIC has also made a pledge of $25,000 to the American Red Cross Special Hurricane Fund to assist with recovery efforts from Hurricane Katrina.
“The first priority for all insurance commissioners is responding to disasters,” said NAIC President Diane Koken. “Our hearts go out to our colleagues who are trying to recover from the devastation of Hurricane Katrina. The NAIC and our members pledge our unified support in helping insurance consumers restore their lives after this unparalleled catastrophe.”
“After surveying our members, we agreed to cancel the meeting and continue committee work through conference calls,” said Catherine Weatherford, NAIC executive vice president and CEO. “If necessary, we will consider holding a smaller meeting in October. Because regulators are used to conducting telephone conference calls, we do not expect any interruption of NAIC business. Insurance regulators are experts at emergency response and our officers and committee chairs are continuing to collaborate on key initiatives.
“As Hurricane Katrina continues to cause extensive damage and threaten the Gulf Coast, our thoughts and support are with our colleagues in states affected by this catastrophe.”
Information about committee work will be updated regularly on the NAIC Web site at www.naic.org.
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