The National Association of Insurance Commissioners (NAIC) has canceled its summer meeting, which was set to start Monday in Philadelphia, due to concerns about Hurricane Irene.
The NAIC, Kansas City, Mo., was expecting more than 1,500 insurance regulators, industry representatives and interested parties to show up to talk about matters such as stranger-originated annuities, annuity illustrations, unclaimed property and implementation of the Patient Protection and Affordable Care Act of 2010.
NAIC President Susan Voss says in a statement that the NAIC decided to cancel the meeting in part because of worries about the safety of attendees and members, and in part because it was clear that many state regulators and industry representatives would be no-shows.
Registered attendees were already dropping travel plans so that they could get ready to help consumers handle disasters, according to NAIC Chief Executive Officer Therese Vaughan.
“The first priority for all state regulators is responding to disasters, and we are fully committed to assisting the states affected by this disaster,” Voss says in a statement.
Information was contributed to this article by Allison Bell.