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January 19, 2007 at 09:41 AM
The National Association of Insurance Commissioners meeting here could include work on a product regulation group, one regulator says.
Officials at the NAIC, Kansas City, Mo., also will be talking about organizing new committees and coping with the recent reduction in the ranks of veteran commissioners, says Roger Sevigny, NAIC vice president and New Hampshire insurance commissioner.
Assignments of commissioners to committees are based on expressions of interest and on background, Sevigny says.
One possible area of importance in the group’s strategic planning for the coming year is the continued development of the Interstate Insurance Product Regulation Commission and the potential to use that kind of structure to advance other areas of regulatory oversight, Sevigny says.
Even as the commissioners meet, the IIPRC, Washington, continues its work on developing product standards and on enlisting consumer advocates and industry members to participate in advisory committees of 8 members each.
The Consumer Advisory Committee is to be comprised of persons representing national, state or local consumer nonprofit organizations with a membership of at least 25 members, according to the IIPRC.
