NAMIC Adds Two Posts
NU Online News Service, Aug. 26, 4:03 p.m. EST?The National Association of Mutual Insurance Companies said it has revised its organization by adding the positions of state advocate and regulatory manager.
The Indianapolis-based trade group said its board of directors approved the position of state advocate in response to increased state advocacy needs by member companies. The state advocate will represent NAMIC's interests in about a dozen states beginning in 2003.
The state advocate will work with state insurance trade associations toward the enactment of pro-insurance legislation and regulations, according to NAMIC. The state advocate will join with current NAMIC staff engaged in state legislative advocacy.
"Our principal objective is to reform state insurance regulation," said Roger Schmelzer, NAMIC vice president-regulatory affairs.
"We have made clear that the way to accomplish reform is through state legislatures and that we are aggressively pursuing a state-based solution," he continued. He said adding a government affairs professional demonstrates NAMIC's commitment to this objective.
NAMIC said the new regulatory manager will serve as the principal resource to member-company executives and compliance personnel seeking assistance on compliance-related issues in the states.
This position is being added as part of NAMIC's ongoing mission to "have a positive impact on our member-companies' bottom line," Mr. Schmelzer explained.
Noting that "a significant amount of company operating costs is used to meet regulatory requirements in the states," he said the regional manager will be a professional with experience in technical property-casualty compliance who can help members navigate state regulatory requirements "more smoothly and less expensively."
The regulatory manager will work with a committee of multi-state member companies to help identify and resolve issues that arise in individual states, NAMIC said.
Representatives of hundreds of NAMIC member-companies have visited Capitol Hill over the last decade to lobby members of Congress on a variety of issues such as Superfund, tax reform and mutual redomestication, the group noted. More recently, NAMIC has been campaigning against federal insurance regulation.
"It is clear from talking to members of Congress, senators and their staffs that pressure for regulatory reform will continue," Mr. Schmelzer said. "This means the states must act independently to produce a reformed regulatory system."
He also observed that "pressure from Washington" is one of the crucial elements needed for the success of "fundamental changes on this scope." Another critical element, according to Mr. Schmelzer, is "a rock-solid commitment from the private sector to invest in the state system and see the project through."
He also said that "NAMIC member companies are putting their dues money on the line as evidence of their dedication" to the group's efforts.
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