National Association of Insurance Commissioners (NAIC) 2021 Spring Meeting Summary

The Mitchell Williams Insurance Regulatory team of lawyers attended the National Association of Insurance Commissioners (NAIC) 2021 Spring National Meeting which was held April 7-14. Even though virtual, the Meeting had a robust agenda with over 20 separate individual Committee and Task Force meetings and more than 2,000 registered attendees. Committees addressed a number of national topics including innovation and technology, climate and resiliency, race and insurance and updates to Model Laws and Regulations.

What You Need to Know:

• The Executive (EX) Committee and Plenary adopted the Real Property Lender-Place Insurance Model Act; Amendments to the Unfair Trade Practices Act (#880); the Regulatory Review of Predictive Models White Paper; Amendments to the Antifraud Plan Guideline (#1690); and the Guideline for Administration of Large Deductible Policies in Receivership.
• The Special (EX) Committee on Race and Insurance reviewed its proposed charges and received initial recommendations from its five workstreams.
• Charges for the Long-Term Care Insurance (EX) Task Force were updated to include work for the Long-Term Care Insurance Reduced Benefit Options (EX) Subgroup.
• The Health Insurance and Managed Care (B) Committee received a report from Jeff Wu with Center for Consumer Information & Insurance Oversight regarding Biden Administration priorities and plans relevant to health insurance.
• Letter Committees adopted various task force and working group reports from meetings that occurred prior to the Spring National Meeting.
• Status reports were provided on a number of NAIC initiatives including NAIC Designation Program Advisory Board Activities and NAIC State Ahead Implementation.

Attached is a summary of the open meetings conducted over the course of the Spring National Meeting. Mitchell Williams looks forward to resuming in-person meetings so that we may once again see our friends, colleagues and clients. Until then, we hope that you stay safe and healthy.

Download the meeting summary here.

For more information please contact Attorneys Jeff Thomas: (501) 688-8879, jthomas@mwlaw.com or Zach Steadman: (501) 688-8892, zsteadman@mwlaw.com.