NAIC News

Insurers’ $158 Billion CLO Bet Is Putting the Industry at Risk

They’ve been billed as a solution to the rock-bottom interest rates weighing down the returns of America’s asset managers. Collateralized loan obligations — which package and sell leveraged loans into chunks of varying risk and return — promise safety and …

What State Insurance Regulators Have Asked of P/C Insurers to Address Coronavirus

As state insurance regulators monitor and respond to the coronavirus impact on insurance, property/casualty insurers are calling on them to coordinate their requests for data and ease up on some requirements. David A. Sampson, president and CEO of the American …

Southeast Insurance Regulators Issue Industry Guidance for Coronavirus Outbreak

Insurance departments across the Southeast are notifying industry representatives of updated procedures and expectations in response to the coronavirus outbreak, while also acknowledging the potential for a serious impact on state insurance operations, agents and policyholders. In some cases, regulators …

Updated Upcoming Insurance Event Cancellations: NAIC, WSIA, Cannabis, CFA…

The number of industry-related conferences being cancelled, postponed or moved to virtual platforms in response to the coronavirus threat is growing. The Wholesale and Specialty Insurance Association (WSIA) has joined the ranks of those canceling events. Travel restrictions and corporate …

California Commissioner Spearheading National Cannabis Insurance Framework

California Insurance Commissioner Ricardo Lara is at the forefront of shaping how state insurance regulators all over the U.S. will deal with the legal cannabis market. Lara is not only the chief insurance regulator of the nation’s largest cannabis market …

Pennsylvania Insurance Commissioner Appointed as NAIC Committee Chair

Pennsylvania Insurance Commissioner Jessica Altman has been selected for the second consecutive year to serve as chair of the Health Insurance and Managed Care Committee of the National Association of Insurance Commissioners (NAIC), the organization reported in announcing its leadership …

Delaware Insurance Commissioner Appointed Chair of NAIC Antifraud Task Force

Delaware Insurance Commissioner Trinidad Navarro was appointed chair of the National Association of Insurance Commissioner’s Antifraud Task Force. Commissioner Navarro previously served as vice-chair of the committee and served in law enforcement for much of his career before his election …

Idaho Commissioner Named NAIC Secretary-Treasurer

Dean Cameron, director of the Idaho Department of Insurance, has been elected secretary-treasurer of the National Association of Insurance Commissioners. Cameron is the first Idaho Insurance Commissioner ever elected to NAIC leadership. He and his fellow NAIC leaders, elected at …

Carbon Copies of Flo, Jake, Gecko Join Climate Change Protest at NAIC Meeting

An angry Flo, an unusually sullen Jake, a less-than cheeky Gecko and a hawkish duck stood outside the National Association of Insurance Commissioners meeting in San Francisco on Thursday in protest to call out the industry for its investments in …

The State of NAIC’s Data Security Model Law

Most states have yet to adopt a cyber security model law for the insurance industry like the one approved by the National Association of Insurance Commissioners in 2017, but one expert believes the industry should be prepared for what he …