Commissioners Huddle Will Include Those New To The Game
When state insurance commissioners meet Feb. 3-4 in Denver for their annual huddle and strategy session that sets the tone for the year, it will be the first time for six participants.
The freshman class of commissioners is the largest in a decade. Currently, there are 13 new commissioners, but that number is expected to reach up to 23 later this year.
Mike Pickens, the new president of the National Association of Insurance Commissioners, says the NAIC is establishing a mentor program in which new commissioners can work with a seasoned commissioner and get background on any issue.
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Kiosks will also be made available so that new commissioners can learn more about NAIC services and resources, he adds.
Pickens says that despite staff turnover at insurance departments, there can be a smooth transition because “there are good people behind those people who are willing to step up. We have a deep bench in the states.”
If the NAIC is going to educate its own on the issues, it is also plans to educate state and federal lawmakers.
The NAIC, according to Pickens, will continue to bring its message to federal lawmakers through its Washington office and “will maintain more of a presence,” given the issues that will come up in Congress. For instance, he says discussion of a single federal regulator could come up this year.
NAIC is already part of the discussion on the Terrorism Risk Insurance Act of 2002 and continues to work on questions such as whether captive insureds or self-insureds should be included under the scope of the act.
Another issue being raised is whether states performing market conduct examinations should be the “primary enforcers” for ensuring there is compliance among insurers with the USA Patriot Acts money laundering provisions.