NAMIC: NAIC Group Needs Ind. Input
By Michael Ha
NU Online News Service, March 13, 3:00 p.m. EST?The National Association of Insurance Commissioners' Government Affairs Task Force recently held its inaugural meeting at the NAIC's spring national meeting in Atlanta.
The task force, which will renew NAIC member participation in federal and state government relations efforts, plans to develop, coordinate and implement the association's legislative and regulatory agendas.
But a statement by Terri Vaughan, Iowa insurance commissioner and task force chairperson, that many of the meetings might be held in executive session because of the strategic nature of deliberations, has raised concerns for industry professionals, according to the National Association of Mutual Insurance Companies
"This Task Force may help commissioners develop more strategic messages, but they will be overlooking an important stakeholder--those in the industry who support state regulation--if they exclude us entirely from their deliberations," said Dave Reddick, market regulation manager for NAMIC in Indianapolis.
"I can understand why they need to have strategic meetings behind closed doors, and I can appreciate that. But I hope not all their sessions will be executive session because it will be helpful for the task force to engage those in the industry and have dialogues. I hope they don't foreclose an opportunity to work with the industry," Mr. Reddick told National Underwriter.
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