November 26, 2024
By:
Zachary T. Steadman, Shadai N. Walker, Drew Allen, Rustin Gaines, CFE
Category:
Insurance Regulatory
Insurance Regulatory
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Download the meeting summary here.
The Mitchell Williams Insurance Regulatory team of attorneys recently attended the National Association of Insurance Commissioners (NAIC) Fall 2024 National Meeting which was held in Denver, Colorado. We have prepared a summary of the open sessions conducted over the course of the meeting highlighting issues that various NAIC groups addressed.
What You Need To Know:
- Elections were held for the 2024 Executive Officers. Congratulations to Commissioner Jon Godfread, President (ND); Commissioner Scott A. White, President-Elect (VA); Superintendent Elizabeth Kelleher Dwyer, Vice President (RI); and Commissioner Jon Pike, Secretary-Treasurer (UT).
- The Health Insurance and Managed Care (B) Committee adopted revisions to the Model Regulation to Implement the Accident and Sickness Insurance Minimum Standards Model Act (#171). Model Act #171 was revised for consistency with the revised version of Model Act #170 and for short term coverage plans.
- The Privacy Protections (H) Working Group approved an extension to allow for more time to draft revisions to the Privacy of Consumer Financial and Health Information Regulation (#672). The extension was granted until the 2025 Fall National Meeting.
- The Innovation, Cybersecurity, and Technology (H) Committee introduced a proposal to establish a new Data Call Study Group to address ongoing challenges in data collection and standardization within the insurance industry.
- Various committees and subgroups heard presentations on the use of artificial intelligence and machine learning in the insurance industry.
Download the meeting summary here.
For more information, please contact our team of Insurance Regulatory attorneys: Zach Steadman: (501) 688-8892, zsteadman@mwlaw.com; Shadai Walker: (501) 688-8803, swalker@mwlaw.com; Drew Allen: (501) 688.8813, dallen@mwlaw.com; or Rustin Gaines, (501) 688-8829, rgaines@mwlaw.com.
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