The Market Regulation and Consumer Affairs Committee at the National Association of Insurance Commissioners has revised a description of what it sees as its assignments.
The NAIC, Kansas City, Mo., has posted the committee’s 2009 charges on the committee’s section of the NAIC Web site.
The committee has classified some of the charges as “essential” and some as “important.” Here are some of the tasks classified as being essential:
- Finalizing policy recommendations regarding centralized data collection and storage at the NAIC.
- Finalizing formal accreditation standards for market regulation.
- Appointing a market actions working group to “facilitate interstate communication and coordinate collaborative state regulatory actions.”
- Appointing a market analysis procedures working group to oversee data collection and analysis techniques.
- Appointing a consumer connections working group. In 2008, the committee listed appointing a consumer protections working group as one of its charges.
- Monitoring the activities of the Antifraud Task Force.
The committee continues to list monitoring the underwriting and market practices of insurers and producers as being important. This year, the committee notes, the committee plans to hold a public hearing on these issues and related issues, such as conditions of insurance marketplaces in urban markets, at the NAIC’s fall meeting.