In a win for PIA, consumers, and supporters of the state insurance regulatory system, the Federal Insurance Office (FIO) announced that it was abandoning its unprecedented effort to collect data on climate-related risks from property and casualty insurance carriers on behalf of the federal government. Instead, the National Association of Insurance Commissioners (NAIC) will now …
Tag: National Association of Insurance Commissioners (NAIC)
FEMA’s NPN Mandate for NFIP Policies Presents New Challenge in Five States
The Federal Emergency Management Agency (FEMA) recently implemented a plan to require every National Flood Insurance Program (NFIP) policy—both new and renewing—to include both an agent and an agency National Producer Number (NPN). The new requirement is applicable to all NFIP policies with an effective date on or after January 1, 2024. The announcement was made in …
Continue reading FEMA’s NPN Mandate for NFIP Policies Presents New Challenge in Five States
Commissioner Spotlight: Connecticut Insurance Commissioner Andrew Mais
In the latest entry in our commissioner spotlight series, we are focusing on the head of the Connecticut Insurance Department (CID), Andrew Mais. Commissioner Mais has led the CID since 2019, when he was appointed to the post by CT Governor Ned Lamont. Earlier this year, Governor Lamont reappointed Commissioner Mais to a 2nd term …
Continue reading Commissioner Spotlight: Connecticut Insurance Commissioner Andrew Mais
Commissioner Spotlight: Washington Insurance Commissioner Mike Kreidler
In the latest entry in our commissioner spotlight series, we are focusing on the head of the Washington state Office of the Insurance Commissioner (OIC), Commissioner Mike Kreidler. Commissioner Kreidler has led the OIC for six terms since 2000. Earlier this year, Commissioner Kreidler announced he will not seek reelection and will retire when his …
Continue reading Commissioner Spotlight: Washington Insurance Commissioner Mike Kreidler
Commissioner Spotlight: Louisiana Commissioner Jim Donelon
In the latest entry in our Commissioner Spotlight series, we are focusing on Commissioner Jim Donelon, the current and longstanding leader of the Louisiana Department of Insurance (LDI) and a former president of the National Association of Insurance Commissioners (NAIC). When he retires early next year, Commissioner Donelon will have served as insurance commissioner for 17 years; he …
Continue reading Commissioner Spotlight: Louisiana Commissioner Jim Donelon
NAIC Consumer Privacy Protection Model Development Faces New Obstacles
As you may know, the National Association of Insurance Commissioners (NAIC) has been working to modernize its consumer privacy protection regulatory framework, which forms the foundation of all states’ insurance consumer protection regimes. The NAIC’s Privacy Protections Working Group (PPWG) is in the process of drafting a single new model, the Insurance Consumer Privacy Protection …
Continue reading NAIC Consumer Privacy Protection Model Development Faces New Obstacles
Commissioner Spotlight: NAIC President and Missouri Director of Insurance Chlora Lindley-Myers
In the latest entry in our Commissioner Spotlight series, we are focusing on the head of the Missouri Department of Commerce & Insurance (MDCI) and current president of the National Association of Insurance Commissioners (NAIC), Director Chlora Lindley-Myers. Dir. Lindley-Myers began her career drafting insurance legislation in the Connecticut General Assembly before spending a decade …
NAIC Consumer Privacy Model Development Speeds On
We have previously covered efforts by the National Association of Insurance Commissioners (NAIC) to modernize the existing consumer privacy regulatory framework that forms the basis for all 50 states’ insurance consumer data protection regimes. The NAIC’s Privacy Protections Working Group (PPWG) is in the process of replacing its Insurance Information and Privacy Protection Model Act (MDL-670) …
Continue reading NAIC Consumer Privacy Model Development Speeds On
FIO Climate Report: NAIC, State Insurance Depts Must Address Climate Risk
A report issued yesterday by the Federal Insurance Office (FIO) has concluded that state insurance regulators should more aggressively address climate-related risks. The FIO, which is housed within the Treasury Department, produced the report in response to an Executive Order (EO) on Climate-Related Financial Risk, which was issued by the Biden administration in early 2021. …
Continue reading FIO Climate Report: NAIC, State Insurance Depts Must Address Climate Risk
Commissioner Spotlight: Puerto Rico Commissioner Alexander S. Adams Vega
In the latest entry in our Commissioner Spotlight series, we are focusing on the head of the Puerto Rico Office of the Commissioner of Insurance, Commissioner Alexander S. Adams Vega. Commissioner Adams has been serving in the Puerto Rico Office of the Commissioner of Insurance for more than 10 years, first as a legal adviser and …
Continue reading Commissioner Spotlight: Puerto Rico Commissioner Alexander S. Adams Vega