Arkansas Insurance Commissioner Allen Kerr has been named vice-chairman of the National Association of Insurance Commissioners’ (NAIC) Workers’ Compensation and Examination Oversight Task Forces.
The mission of the Workers’ Compensation (C) Task Force is to study the nature and effectiveness of state approaches to workers’ compensation and related issues, including, but not limited to: assigned risk plans; safety in the workplace; treatment of investment income in rating; occupational disease; cost containment; and the relevance of adopted NAIC model laws, regulations and/or guidelines pertaining to workers’ compensation.
The Examination Oversight (E) Task Force is to monitors, develops and implements tools for the risk-focused surveillance process. For financial examinations and analysis, this includes maintenance of the Financial Condition Examiners Handbook and the Financial Analysis Handbook to provide guidance to examiners and analysts utilizing a risk-focused approach to solvency regulation and to encourage effective communication and coordination between examiners, analysts and other regulators.
“It is an honor to be selected by my fellow commissioners in NAIC’s leadership to be vice-chairman on these two important task forces. In representing a state that saw a 4.3 percent decrease in workers’ compensation rates in 2016 and heading a department that received a perfect accreditation score for financial examinations, I am looking forward to sharing Arkansas’s positive experiences with both of these groups,” Kerr said in a statement released by the AID.
Source: Arkansas Insurance Department
Topics Workers' Compensation
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