The National Association of Insurance Commissioners (“NAIC”) has released its 2017 annual report, “A Blueprint for Strategy.”
The report outlines the financial health of the NAIC, focuses on initiatives and operations directly impacted by the budget, and illustrates the efforts state insurance regulators made safeguarding insurance markets and protecting consumers.
“2017 was a strong year for the NAIC, not only from an operational standpoint, but also from a regulatory standpoint,” said Ted Nickel, the NAIC's most recent past president and the insurance commissioner of Wisconsin.
The annual report provides a review of regulatory activities in the following areas: operations and technology, financial regulation, consumer education, market regulation, and health, federal and international policy.
“In 2017 state insurance regulators were heard in Washington, D.C., and in international forums as credible, non-partisan resources on tough issues like health insurance reform, international agreements, and disaster response,” said Julie Mix McPeak, the NAIC's president and the commissioner of commerce and insurance in Tennessee. “While the future of these issues is still being determined, increased state flexibility and authority are a direct result of our approach.”
The report also outlines the NAIC's three year strategic plan, State Ahead. “We began discussions on State Ahead in 2017 and it's the roadmap that will provide the organization the guidance it needs to navigate through the next three years,” said Commissioner Nickel.
The report includes the organization's audited financial statements.
Learn more: www.naic.org.
Steven A. Meyerowitz
Steven A. Meyerowitz, a Harvard Law School graduate, is the founder and president of Meyerowitz Communications Inc., a law firm marketing communications consulting company. He may be contacted at [email protected].