NAIC Spring Meeting Update

Recently the National Association of Insurance Commissioners (NAIC) held its Spring National Meeting in the city in which it is headquartered: Kansas City, Missouri. PIA was represented at both the Board of Directors meeting of the National Insurance Producer Registry (NIPR) and elsewhere during the NAIC meeting. During the NIPR meeting, the Board took advantage of being local to its headquarters to meet many members of its management team for the first time.

During the Privacy Protection Working Group meeting, NAIC staff provided a federal legislative update. A bipartisan team of leaders from the Senate Commerce Committee and House Energy and Commerce Committee are engaged in drafting talks on a proposal that would regulate the collection, storage, and use of personal consumer information by technology companies. Additionally, Working Group Chair Katie Johnson (VA) announced that the Working Group would likely be moved from the Market Regulation and Consumer Affairs (D) Committee to the newly formed Innovation, Cybersecurity, and Technology (H) Committee, within the NAIC’s organizational structure [this change was approved at the end of the National Meeting]. The Working Group is in the beginning stages of revising the NAIC Insurance Information and Privacy Protection Model Act (#670) and the Privacy of Consumer Financial and Health Information Model Regulation (#672) and hopes to have those revised models adopted by the Executive Committee by the close of the 2023 Fall National Meeting.

The Innovation, Cybersecurity, and Technology (H) Committee, chaired by Commissioner Kathleen Birrane of MD, held its first meeting during the Spring National Meeting. The Committee’s co-vice-chairs are Directors Evan Daniels (AZ) and Dana Popish Severinghaus (IL). During the Committee’s inaugural meeting, Commissioner Birrane confirmed the NAIC’s intent to move the Privacy Protection Working Group to the (H) Committee and to move the Speed to Market Working Group to the Market Regulation and Consumer Affairs (D) Committee [both changes were approved at the end of the National Meeting].

During the Executive (EX) Committee meeting, the Committee adopted a proposal for the NAIC’s Center for Insurance Policy and Research (CIPR) to create a Catastrophe Modeling Center of Excellence (COE).

The Health Insurance and Managed Care (B) Committee meeting featured a presentation, which can be accessed by viewing the meeting materials, by Jeff Wu of the Committees for Medicare & Medicaid Services (CMS). The presentation touched on some of the issues surrounding the No Surprises Act that we have previously addressed on the blog.

We will continue to update the blog as the NAIC’s work evolves going forward.