NAIC Weighs Meeting Department Options Following Clean Sweep
The National Association of Insurance Commissioners is weighing several options following a clean sweep of its meetings department.
Among the options being considered are outsourcing the function and rebuilding the department, according to Andy Beal, general counsel for the Kansas City, Mo.-based group.
Beal emphasizes that the department still exists and that “we dont think that it will be disruptive to the national meetings, interim meetings or the educational seminars.”
Two employees resigned and the remaining four employees were terminated, according to Beal.
Four to six weeks ago, an internal review of the department began and “we discovered a violation of the NAIC conflict of interest policy,” Beal alleges.
The result of the review found that staff had “inappropriately accepted incentives from outside vendors,” Beal alleges.