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NAIC sets up CO-OP solvency arm

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State insurance regulators will be gathering to talk about the problems at the Consumer Operated and Oriented Plan (CO-OP) carriers.

The Health Insurance and Managed Care Committee, part of the National Association of Insurance Commissioners (NAIC), is starting a CO-OP Solvency and Receivership Subgroup.

See also: National Underwriter’s 2015 Rogues Gallery

The subgroup “provides a forum for state regulators to discuss and share information” on the status of CO-OP carriers, according to what the subgroup says in a description of its proposed charges posted on the subgroup’s section of the NAIC’s website.

The subgroup held two conference call meetings in February and one in March and is set to convene Monday in New Orleans, at the NAIC’s spring meeting.

The Health Insurance and Managed Care Committee expected to bring the subgroup’s proposed charges up for approval that day. The health committee agenda shows Katharine Wade of Connecticut presenting the subgroup’s charges to the committee and Nick Gerhart of Iowa presenting a subgroup report.

See also: Feds toughen CO-OP plan reporting rules


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